Managers’ Decision-Making Strategies During Crises: Bounded Rationality and Intuition — an Interplay

Marian Preda, Oana Mara Stan

Abstract


The article discusses managers’ decision-making strategies that encompass risk, time pressure, and uncertainty into a heuristic logic of obligation to act. It highlights the performative features of metacognitive processes that put intuition into use within the framework of bounded rationality and emotional intelligence. Among the threats that leaders face when confronted with intuitive decision-making are failure, blame, and reputational damage, with ensuing restoration tactics. The implications for impactful managerial practices concern ways to reconcile short-term acceptability with collective rationality outcomes of actionable decisions.

Keywords


crisis; decision-making; management; bounded rationality; leadership; intuition.

Full Text:

PDF


DOI: https://doi.org/10.24193/tras.SI2023.7 Creative Commons License
Transylvanian Review of Administrative Sciences by TRAS is licensed under a Creative Commons Attribution 4.0 International License.
Based on a work at http://rtsa.ro/tras/


Online ISSN: 2247-8310 | Print ISSN: 1842-2845 |  © AMP

The opinions expressed in the texts published are the author’s own and do not necessarily express the views of TRAS editors. The authors assume all responsibility for the ideas expressed in the materials published.