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Improving dynamic decision making through training and self-reflection

Donovan, Sarah J.; Guess, C. Dominik and Näslund, Dag LU (2015) In Judgment and Decision Making 10(4). p.284-295
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... (More)
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 benefitted the most from training. Organizations could use DDM training to establish and promote a culture that values self-reflective decision making. (Less)
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
dynamic decision making, complex problem solving, training, self-reflection, microworlds, strategies
in
Judgment and Decision Making
volume
10
issue
4
pages
284 - 295
publisher
Society for Judgment and Decision Making
external identifiers
  • wos:000358800600001
  • scopus:84938530531
ISSN
1930-2975
language
English
LU publication?
yes
id
4ade6bb1-e04c-4162-9ebd-81de45f0f2e7 (old id 7984980)
alternative location
http://journal.sjdm.org/14/14411/jdm14411.pdf
date added to LUP
2015-09-25 13:30:02
date last changed
2017-09-17 06:53:02
@article{4ade6bb1-e04c-4162-9ebd-81de45f0f2e7,
  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 benefitted the most from training. Organizations could use DDM training to establish and promote a culture that values self-reflective decision making.},
  author       = {Donovan, Sarah J. and Guess, C. Dominik and Näslund, Dag},
  issn         = {1930-2975},
  keyword      = {dynamic decision making,complex problem solving,training,self-reflection,microworlds,strategies},
  language     = {eng},
  number       = {4},
  pages        = {284--295},
  publisher    = {Society for Judgment and Decision Making},
  series       = {Judgment and Decision Making},
  title        = {Improving dynamic decision making through training and self-reflection},
  volume       = {10},
  year         = {2015},
}