Document Type

Article

Publication Date

7-2015

Abstract

The modern business environment requires managers to make effective decisions in a dynamic and uncertain world. How can such dynamic decision making (DDM) improve? The current study investigated the effects of brief training aimed at improving DDM skills in a virtual DDM task. The training addressed the DDM process, stressed the importance of self-reflection in DDM, and provided 3 self-reflective questions to guide participants during the task. Additionally, we explored whether participants low or high in self-reflection would perform better in the task and whether participants low or high in self-reflection would benefit more from the training. The study also explored possible strategic differences between participants related to training and self-reflection. Participants were 68 graduate business students. They individually managed a computer-simulated chocolate production company called CHOCO FINE and answered surveys to assess self-reflection and demographics. Training in DDM led to better performance, including the ability to solve initial problems more successfully and to make appropriate adjustments to market changes. Participants’ self-reflection scores also predicted performance in this virtual business company. High self-reflection was also related to more consistency in planning and decision making. Participants low in self-reflection benefited the most from training. Organizations could use DDM training to establish and promote a culture that values self-reflective decision making.

Comments

Originally published in Judgment and Decision Making, Vol. 10, No. 4, July 2015, pp. 284-295

http://journal.sjdm.org/14/14411/jdm14411.html

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

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