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Enhancing mental models, analogical transfer, and performance in strategic decision making

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  • Michael Shayne Gary
  • Robert E. Wood
  • Tracey Pillinger

Abstract

Recent research suggests that managers often make strategic decisions in novel situations by utilizing past experiences to reason by analogy. However, there is substantial evidence that decision makers often fail to identify and apply knowledge about one situation to a similarly structured situation. Two experimental studies investigated the mechanisms impacting knowledge transfer from one managerial situation (the source) to an analogous situation. The results show that exposure to variation in the source situation improves transfer performance. Variation decreases performance in the short term but improves learning and increases analogical transfer. Higher performance on and systematic search of the source situation also increase transfer performance. These results yield important implications for enhancing analogical transfer in strategic decision making and for future research on reasoning by analogy. Copyright © 2012 John Wiley & Sons, Ltd.

Suggested Citation

  • Michael Shayne Gary & Robert E. Wood & Tracey Pillinger, 2012. "Enhancing mental models, analogical transfer, and performance in strategic decision making," Strategic Management Journal, Wiley Blackwell, vol. 33(11), pages 1229-1246, November.
    • Handle: RePEc:bla:stratm:v:33:y:2012:i:11:p:1229-1246
    DOI: 10.1002/smj.1979
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    2. Hung, Shih-Chang & Chang, Shu-Chen, 2023. "Framing the virus: The political, economic, biomedical and social understandings of the COVID-19 in Taiwan," Technological Forecasting and Social Change, Elsevier, vol. 188(C).
    3. Canan C. Mutlu & Sunay Mutlu & Steve Sauerwald, 2021. "CEO outside directorships and managerial efficiency: The role of host board capital," Corporate Governance: An International Review, Wiley Blackwell, vol. 29(1), pages 45-66, January.
    4. Stephan Billinger & Kannan Srikanth & Nils Stieglitz & Terry R. Schumacher, 2021. "Exploration and exploitation in complex search tasks: How feedback influences whether and where human agents search," Strategic Management Journal, Wiley Blackwell, vol. 42(2), pages 361-385, February.
    5. Tungju Wu & Yenchun Jim Wu & Hsientang Tsai & Yibin Li, 2017. "Top Management Teams’ Characteristics and Strategic Decision-Making: A Mediation of Risk Perceptions and Mental Models," Sustainability, MDPI, vol. 9(12), pages 1-15, December.
    6. Vecchiato, Riccardo, 2020. "Analogical reasoning, cognition, and the response to technological change: Lessons from mobile communication," Research Policy, Elsevier, vol. 49(5).
    7. Sakellariou, Evy & Vecchiato, Riccardo, 2022. "Foresight, sensemaking, and new product development: Constructing meanings for the future," Technological Forecasting and Social Change, Elsevier, vol. 184(C).
    8. Dominic, Theresia & Theuvsen, Ludwig, 2015. "The Impact of External and Internal Factors on Strategic Management Practices of Agribusiness Firms in Tanzania," GlobalFood Discussion Papers 197072, Georg-August-Universitaet Goettingen, GlobalFood, Department of Agricultural Economics and Rural Development.
    9. Maggie Rong Hu & Xiaoyang Li & Yang Shi, 2019. "Adverse Selection and Credit Certificates: Evidence from a P2P Platform," Working Papers id:13038, eSocialSciences.
    10. Jiang, Fuming & Travaglione, Tony & Liu, Li Xian & Li, Jizhong, 2021. "When does the global mindset affect headquarters–subsidiary relationships?," Journal of Business Research, Elsevier, vol. 136(C), pages 523-542.
    11. Moqaddamerad, Sara & Ali, Murad, 2024. "Strategic foresight and business model innovation: The sequential mediating role of sensemaking and learning," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    12. Miles M Yang & Feifei Yang & Tingru Cui & Ying-Chu Cheng, 2019. "Analysing the dynamics of mental models using causal loop diagrams," Australian Journal of Management, Australian School of Business, vol. 44(3), pages 495-512, August.
    13. Fernando Monroy & Joel Mendoza, 2018. "The Impact Of Human Error Factors On Top Level Strategic Decision-Making: Evidence From The Mexican Steel Industry," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 12(2), pages 37-51.
    14. Torres, Juan Pablo & Kunc, Martin & O'Brien, Frances, 2017. "Supporting strategy using system dynamics," European Journal of Operational Research, Elsevier, vol. 260(3), pages 1081-1094.
    15. Vincent de Gooyert, 2019. "Developing dynamic organizational theories; three system dynamics based research strategies," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(2), pages 653-666, March.
    16. Chen, Yi-Min & Ni, Yu-Ting & Liu, Hsin-Hsien & Teng, Ying-Maw, 2015. "Information- and rivalry-based perspectives on reactive patent litigation strategy," Journal of Business Research, Elsevier, vol. 68(4), pages 788-792.
    17. Hu, Maggie Rong & Li, Xiaoyang & Shi, Yang, 2019. "Adverse Selection and Credit Certificates: Evidence from a P2P Platform," ADBI Working Papers 942, Asian Development Bank Institute.
    18. Saar Van Lysebetten & Frederik Anseel & Diana R. Sanchez, 2020. "The Effects of Situation Variability in a Simulation-Based Training for Implicit Innovation Knowledge," Simulation & Gaming, , vol. 51(4), pages 477-497, August.

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