SEM for exploring pragmatism applied to context of business decision making

Abstract

Pragmatism, as a philosophical perspective, emphasizes practical consequences and real-world outcomes in decision-making processes. In the context of business, pragmatism advocates for solutions that are not only theoretically sound but also feasible and effective in practice. This approach underscores the importance of flexibility, adaptability, and responsiveness to changing circumstances. In essence, pragmatism encourages decision-makers to prioritize results over rigid adherence to preconceived notions or theoretical constructs. SEM provides a methodological framework that aligns well with the principles of pragmatism. By allowing for the simultaneous examination of multiple relationships and variables, SEM enables researchers and decision-makers to construct comprehensive models that capture the complexity of real-world scenarios. Moreover, SEM facilitates the integration of both observed and latent variables, thereby accommodating the nuanced and multifaceted nature of business phenomena. IBM SPSS Amos software aids in conducting structural equation modeling, facilitating the application of standard multivariate techniques such as correlation analysis and covariance analysis. These three constructs are established through the use of questionnaires. A positive correlation indicates a more robust relationship. A company is deliberating between two manufacturing processes for a new product line. Decision-making in manufacturing, especially when choosing between two manufacturing processes for a new product line, is intricate and involves various factors.