Purpose -The purpose of this paper is to apply interpretive structural modelling in the clarification of the perceptions of different individuals in a managerial group in order to improve group decision making. To limit conflict and increase shared knowledge in group decision making, there is a need to explain differences among group members at the cognitive level. Design/methodology/approach -Qualitative research has suggested methods that involve personal narratives and in-depth interviews. The effectiveness of such methods can be enhanced using the techniques of formal logic. The approach used for the case is a simulation of a strategic group decision-making process using interpretive structural modelling. The simulation contemplates a typical business scenario. It was done using role-play in strategic corporate problem solving: four functional managerial roles and one general managerial role were assigned. Individual and group relationships were portrayed. Findings -After analysing the results the authors found major differences in priority orderings of the different roles. As there are differences in the perception of the priority of the issues in the different managerial roles, it would be more difficult to take a decision. Research limitations/implications -The limitations of this research are that it was done with assigned roles instead of real executives. Further research could provide ways of identifying schools of thought in decision-making groups for strategic issues. Practical implications -The practical application of this paper would be in the hypothetical decision-making arena, improving the decision-making process among executives working in different functional areas. Originality/value -The application of formal logic methods to a decision-making process is the prime contribution of this paper.
PurposeThis paper aims to present an analysis of entrepreneurial activities that emphasises anticipation and the art of future exploration; in so doing, it identifies important aspects of entrepreneurship as aesthetic or creative activities.Design/methodology/approachAfter a short synthesis of the main entrepreneurial functions in terms of decision making in the financial sphere, the managerial sphere, and the “booster” sphere, the paper concentrates on the qualities required for a successful “booster” function (motivation, ambition, innovation, cooperation, proactiveness). Because proactiveness and innovation both require futures thinking and creativity, the paper presents relevant material from the literature on long‐term foresight to establish the artistic aspects of these important components of entrepreneurial activities.FindingsThe paper's linking of entrepreneurial functions to the capacity for anticipation establishes the need for entrepreneurs to acquire competencies (in the area of forecasting) that are usually associated with artistic endeavours.Practical implicationsThere is an urgent need for university curricula to include material that is oriented towards the training of entrepreneurs. This should include specific courses on creativity and forecasting.Originality/valueThe recognition that key entrepreneurial functions (proactiveness and innovation) are more art than science, and that they therefore require a set of operational tools, is relatively novel in the current literature on entrepreneurial (and managerial) functions, and opens a research field in business decision making.
Practitioners of futures research think that most modelling, and especially economic modelling, is concerned with forecasting. Since it is generally agreed that futures research is not concerned with deterministic views of the future, futures researchers have turned their back on quantitative methods, relying instead on scenario methods. However, given the progress made in modelling techniques, there are no reasons to maintain the divorce between futures research and modelling, especially economic modelling. Both can provide interesting insights about the future and these insights can certainly be improved by using all available techniques.
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