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A dual-processing view of three cognitive strategies in strategic decision making

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dc.contributor Aalto-yliopisto fi
dc.contributor Aalto University en
dc.contributor.author Luoma, Jukka
dc.contributor.author Martela, Frank
dc.date.accessioned 2021-02-02T09:09:52Z
dc.date.available 2021-02-02T09:09:52Z
dc.date.issued 2021-06
dc.identifier.citation Luoma , J & Martela , F 2021 , ' A dual-processing view of three cognitive strategies in strategic decision making : Intuition, analytic reasoning, and reframing ' , Long Range Planning , vol. 54 , no. 3 , 102065 . https://doi.org/10.1016/j.lrp.2020.102065 en
dc.identifier.issn 0024-6301
dc.identifier.issn 1873-1872
dc.identifier.other PURE UUID: 25b3ad3f-b9a7-4154-8001-141d54cb7126
dc.identifier.other PURE ITEMURL: https://research.aalto.fi/en/publications/25b3ad3f-b9a7-4154-8001-141d54cb7126
dc.identifier.other PURE LINK: http://www.scopus.com/inward/record.url?scp=85099655798&partnerID=8YFLogxK
dc.identifier.other PURE FILEURL: https://research.aalto.fi/files/55587263/Luoma_A_Dual_Processing.1_s2.0_S0024630120302703_main.pdf
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/102559
dc.description.abstract In making strategic decisions, managers implicitly or explicitly come to choose a cognitive strategy, by which we refer to the choices made as regards what type of information processing to engage in and rely on as the basis for a decision. Dual-processing theories of cognition recognize two types of information processing: non-conscious and conscious. There are two cognitive strategies—relying on intuition and engaging in analytic reasoning—that have a straightforward connection to the two types of information processing. However, managers often engage in reframing, that is, they deliberately attempt to rethink the background assumptions concerning how one approaches a decision-making situation. Despite the strategic importance of reframing, the foundations of this cognitive strategy remain theoretically underdeveloped. We argue that reframing involves both Type 1 and Type 2 processing in a complementary fashion. Specifically, reframing can be induced through conscious reflection and non-conscious processingduring an incubation period. Furthermore, we argue that while reframing is a robust cognitive strategy across varying levels of environmental dynamism, dedicating time to reframing incurs significant opportunity costs, and can thus be employed only sparingly. en
dc.format.extent 58
dc.format.mimetype application/pdf
dc.language.iso en en
dc.publisher Elsevier Limited
dc.relation.ispartofseries Long Range Planning en
dc.relation.ispartofseries articlenumber 102065 en
dc.rights openAccess en
dc.title A dual-processing view of three cognitive strategies in strategic decision making en
dc.type A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä fi
dc.description.version Peer reviewed en
dc.contributor.department Department of Industrial Engineering and Management
dc.subject.keyword Decision making
dc.subject.keyword Dual-processing theory
dc.subject.keyword Intuition
dc.subject.keyword Managerial cognition
dc.subject.keyword Reflection
dc.identifier.urn URN:NBN:fi:aalto-202102021861
dc.identifier.doi 10.1016/j.lrp.2020.102065
dc.date.embargo info:eu-repo/date/embargoEnd/2022-11-23

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