A dual-processing view of three cognitive strategies in strategic decision making: Intuition, analytic reasoning, and reframing
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A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä
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Date
2021-06
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Language
en
Pages
58
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Long Range Planning, articlenumber 102065
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 processing during 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.Description
Keywords
Decision making, Dual-processing theory, Intuition, Managerial cognition, Reflection
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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
