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Making Decisions In An Ever-Changing Environment - A Research Agenda

Author

Listed:
  • BELA PATAKI
  • KATALIN PADAR

Abstract

Simon recognized the limitations of the classical normative decision theory and established descriptive theory. His concept of bounded rationality and administrative behavior was a big step ahead, but the world has changed dramatically since then. Multiple, continuous changes have become normal, which brings up new problems on the decision maker’s and on the organization’s level as well. It became usual that the decision maker is not able to define preferences for lack of knowledge and have to learn or delegate much more frequently than before. In the same time the organization should be more resilient or nimble in this ever-changing environment. The authors outline a research agenda on both levels: some about the continuous learning and frequent delegating, and some about the HRM and IT-management issues of organizational nimbleness.

Suggested Citation

  • Bela Pataki & Katalin Padar, 2013. "Making Decisions In An Ever-Changing Environment - A Research Agenda," Perspectives of Innovation in Economics and Business (PIEB), Prague Development Center, vol. 13(1), pages 33-42, February.
    • Handle: RePEc:pdc:jrpieb:v:13:y:2013:i:1:p:33-42
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    More about this item

    Keywords

    Bounded rationality; administrative behavior; uncertainty; resilience; nimble organization;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management

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