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Article
Publication date: 21 November 2022

Boris Eisenbart, Dan Lovallo, Massimo Garbuio, Matteo Cristofaro and Andy Dong

Does future thinking enhance managers’ innovative behavior? This study aims to posit that the ability to project events while considering current/future variables and their…

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Abstract

Purpose

Does future thinking enhance managers’ innovative behavior? This study aims to posit that the ability to project events while considering current/future variables and their development (i.e. future thinking) – inextricably linked with the knowledge creation process – may enhance the manager’s accuracy and the number of potentially successful innovative ideas for organizations.

Design/methodology/approach

The authors use a between-group experiment to examine the innovation choices of 47 subjects with experience in evaluating the market potential of new products when asked to support or otherwise reject real-life innovation-related ideas. The authors test the accuracy of decisions made by participants primed to apply future thinking, practically implemented through abductive reasoning, in their decision-making.

Findings

The authors found a significant change in managers’ innovative choices, with participants primed for future thinking making significantly more accurate decisions than the control group. Those participants both correctly chose innovation-related ideas with significant future potential and rejected ideas with limited potential that ultimately failed.

Originality/value

This study explores how future thinking enhances managers’ innovative behavior in organizations. It provides empirical evidence on how future thinking, practiced through abductive reasoning, can work to foster innovative behavior, which is an antecedent of knowledge creation. Organizations that foster future thinking concurrently create knowledge, increasing their competitive advantage in the long run.

Details

Journal of Knowledge Management, vol. 27 no. 6
Type: Research Article
ISSN: 1367-3270

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Article
Publication date: 6 November 2017

Massimo Garbuio and Dan Lovallo

Whether an organization’s political behaviour is positively related to its performance has been a long-standing question. Most studies elaborating on this issue, although rich in…

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Abstract

Purpose

Whether an organization’s political behaviour is positively related to its performance has been a long-standing question. Most studies elaborating on this issue, although rich in detail, primarily have been limited to case studies, apart from a niche set of studies in international business. This study aims to explore this question through a survey study of managers and executives from around the world, across a range of industries.

Design/methodology/approach

The study explores the link between politics, the ability of a firm to speedily reach the market and its growth rate through a study of 382 executives from across the world. It also investigates alternative explanations of slow speed to market due to power centralization, decision-making layers and conflict.

Findings

The results show that politics – the observable but often covert actions through which executives influence internal decisions – has a direct negative effect on a firm’s ability to reach the market first and on its growth rate. That is, not only is politics time-consuming but it may also have a detrimental impact on the selection of the best growth opportunities.

Originality/value

Politics does have a negative impact on growth; it slows down a firm’s growth and its ability to reach the market. This study eliminates possible alternative explanations of a slow pace to market: slower companies are not so because they have too many decision-making layers but because they use consultative processes in resource-allocation decisions, or because of conflict.

Details

Review of International Business and Strategy, vol. 27 no. 4
Type: Research Article
ISSN: 2059-6014

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Book part
Publication date: 19 August 2015

Massimo Garbuio, Dan Lovallo, Joseph Porac and Andy Dong

Strategic option generation is a fundamental step in strategy formulation. Several lenses have been proposed to explain its foundations, including the microeconomics positioning…

Abstract

Strategic option generation is a fundamental step in strategy formulation. Several lenses have been proposed to explain its foundations, including the microeconomics positioning school, and the resource and capabilities based view of the firm. These approaches are largely based on inductive and deductive logics, which are not the logics that provide strategic options that are potentially novel, profitable, and largely differentiated from competitive offerings. In this chapter, we propose a unifying framework of the cognitive foundations of strategic option generation. Building on five fundamental cognitive acts – imitation, framing, analogical reasoning, abductive reasoning, and mental simulation, this proposed model both synthesizes the extant literature and provides guidance about promising avenues for future theoretical and empirical research.

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Article
Publication date: 15 February 2016

Boris Eisenbart, Massimo Garbuio, Daniele Mascia and Federica Morandi

Managers spend a great deal of time in meetings making decisions critical to organisational success, yet the design aspects of meetings remain largely understudied. The purpose of…

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Abstract

Purpose

Managers spend a great deal of time in meetings making decisions critical to organisational success, yet the design aspects of meetings remain largely understudied. The purpose of this paper is to elaborate on the potential impact of one critical design aspect of meetings – namely, whether a decision to be taken (or the meeting in general) was scheduled or not – on the use of distributed information, information elaboration, conflict, speed of decision making, and, ultimately, decision-making effectiveness.

Design/methodology/approach

The research presented in this paper combines a literature review with empirical data obtained from questionnaires and direct observation of decision making meetings on organisational issues in a hospital. One meeting was scheduled, the other two were unscheduled. A second questionnaire was administered 12 months after the respective decision making meetings to explore and evaluate the efficiency of the decisions made and their implementation.

Findings

This paper suggests that a scheduled meeting with a shared agenda of all decisions to be taken may induce decision makers to form opinions upfront at the meeting, with these opinions eventually serving as sources of conflict during group discussion. Because of the nature of the conflict generated, these meetings are more likely to run long and to not deliver the expected outcomes.

Originality/value

The study contributes to the debate on group decision-making processes by examining the effect of meeting scheduling on information elaboration and conflict in real-world decision-making settings. Although robust evidence has supported the existence of relationships between information elaboration, conflict, and decision-making effectiveness, previous studies have mainly focused on the effects of these processes during scheduled meetings and experimental settings. The findings of the present study show the effect of meeting scheduling on decision-making effectiveness in real-world settings.

Details

Journal of Strategy and Management, vol. 9 no. 1
Type: Research Article
ISSN: 1755-425X

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Book part
Publication date: 21 December 2010

Massimo Garbuio, Dan Lovallo and John Horn

Mergers & acquisitions (M&A) are an important element of any company's growth plan. However, the actual performance of most M&A activity fails to live up to the expectations of…

Abstract

Mergers & acquisitions (M&A) are an important element of any company's growth plan. However, the actual performance of most M&A activity fails to live up to the expectations of the acquirers. The psychological biases that affect decision-making have been posited as a source of this disappointing performance. The broad strokes in which these biases have been offered up as explanation for M&A failure don't offer much insight into the specific causes, and therefore the actions business leaders can take to mitigate their impact. We review a 4-step M&A process, identify the different biases that affect the different stages, and then offer practical debiasing techniques targeted at that particular stage of the decision-making process. This targeted debiasing can help business leaders find practical solutions to this vexing problem. Finally, we review two biases that motivate decision makers to avoid pursuing M&A deals at all – to the detriment of achieving their growth targets.

Details

Advances in Mergers and Acquisitions
Type: Book
ISBN: 978-0-85724-465-9

Available. Content available
Book part
Publication date: 19 August 2015

Abstract

Details

Cognition and Strategy
Type: Book
ISBN: 978-1-78441-946-2

Available. Content available
Book part
Publication date: 21 December 2010

Abstract

Details

Advances in Mergers and Acquisitions
Type: Book
ISBN: 978-0-85724-465-9

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Article
Publication date: 11 March 2022

Angélica Pigola, Priscila Rezende da Costa, Naiche van der Poel and Franklin Thiago Ribeiro Yamaçake

The purpose of this study is to analyze the systematic relationships among dynamic capabilities in startups’ survival.

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Abstract

Purpose

The purpose of this study is to analyze the systematic relationships among dynamic capabilities in startups’ survival.

Design/methodology/approach

This study is based on a systematic literature review on dynamic capabilities related to startups’ survival, following the content analysis approach.

Findings

This study presents four different perspectives of analysis about dynamic capabilities from resources exchange and business factors that meet needs of startups' survival. It also points out new area for future research in this field. In doing so, this study differentiates itself by its approach not limiting dynamic capabilities research and enriching entrepreneurs' capability theory.

Practical implications

By indicating an evolution of dynamic capabilities theory among tangible and intangible resources exchange in a more favorable adaptation to startups growth, this study boosters and contributes to the society, economy in general and to the science of business management in various perspectives such as overcoming cognitive barriers, entrepreneur’s commitment, innovation capabilities and knowledge capacity of startups.

Originality/value

This study amplifies dynamic capabilities vision in startups’ survival as one of the main sources for growth in this type of organizations. It also develops a deeper understanding about new avenues for dynamic capabilities theory among tangible and intangible resources exchange.

Details

Journal of Entrepreneurship in Emerging Economies, vol. 15 no. 5
Type: Research Article
ISSN: 2053-4604

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Article
Publication date: 14 February 2020

Paul J.H. Schoemaker, George S. Day and Govi Rao

The case of Philips Lighting shows how management coped with the ambiguous but real threats and opportunities of a highly disruptive emerging technology using three…

609

Abstract

Purpose

The case of Philips Lighting shows how management coped with the ambiguous but real threats and opportunities of a highly disruptive emerging technology using three insight-producing approaches: 10; 10;∙9; Probe and learn widely. 10;∙9; Explore creative hypotheses. 10;∙9; Develop multiple scenarios. 10;

Design/methodology/approach

The case shows how leadership teams can effectively respond when confronted with ambiguous but potentially disruptive signals.

Findings

When assessing a potential digital disruption, leaders can begin by probing the latent needs of current as well as potential customers more thoroughly. Once ‘probe and learn’ approaches have surfaced new perspectives and strategic possibilities, the organization should generate context-expanding hypotheses about the meaning and consequences of various weak signals.

Practical implications

A limited number of disparate scenarios, clearly organized around a few pivotal uncertainties, provide leaders with a strategic context for interpreting ambiguous signals.

Originality/value

In the current VUCA environmen, when turbulence is high or major disruption is feared, all leaders need to examine at least one scenario that directly challenges the organization’s current mindset.

Details

Strategy & Leadership, vol. 48 no. 2
Type: Research Article
ISSN: 1087-8572

Available. Open Access. Open Access
Article
Publication date: 23 November 2022

Aswathy Sreenivasan and M. Suresh

It is the responsibility of the national governments to deliver healthcare services that are both effective and affordable to everyone. There are still gaps in this supply, which…

3643

Abstract

Purpose

It is the responsibility of the national governments to deliver healthcare services that are both effective and affordable to everyone. There are still gaps in this supply, which is extremely demanding. In this sense, companies are attempting to reach neglected markets and disrupt the marketplace with novel solutions. Although there are still anecdotal examples, a thorough literature evaluation is lacking. This study aims to provide a synthesis of the future of healthcare start-ups.

Design/methodology/approach

Papers that included the term “healthcare start-ups,” “health-tech start-ups,” “start-up,” “Artificial intelligence in healthcare,” and “Health tech start-ups in India” were considered for the analysis. The Biblioshiny package under the R programming tool was considered for a detailed analysis of the papers.

Findings

A total of 854 documents were related to healthcare start-ups, from which only 14 papers are related to health-tech start-ups and four papers are related to artificial intelligence in healthcare start-ups. It has been found from the past works of literature that the effectiveness of technology for information and communication in healthcare has significantly increased in recent years. Technology has already begun to permeate the healthcare market from other fields and industries. One way that the internet will help the industry evolve is by integrating digital health into daily life.

Research limitations/implications

The study is not using other databases but is limited to Google Scholar and Scopus. A significant constraint of this study is the paucity of relevant literature in reputable publications on health and information systems. Another restriction was that gray literature, such as any journal or newspaper written by members of the health community about health-tech start-ups, was not taken into account.

Practical implications

Healthcare players should exhibit a fundamental openness to novel solutions to facilitate the digitalization of the healthcare system. Developing technology is widely used, and from an innovation perspective, a start-up should focus on innovation by employing technology and offering revolutionary healthcare solutions.

Originality/value

The novelty of this research is based on its presentation of an organized and thorough literature evaluation, which defines the current state of the art concerning green start-ups. To create a sustainable start-up, a thorough study of the information gained in respect of its healthcare start-up is presented.

Details

International Journal of Industrial Engineering and Operations Management, vol. 4 no. 1/2
Type: Research Article
ISSN: 2690-6090

Keywords

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