 THE USE OF HEURISTICS IN BUSINESS DECISIONSRadu Atanasiu Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2017, vol. 11, issue 1, 1046-1053 Abstract: In today’s business environment, the game changes incredibly fast, new types of challenges arise more and more often, assessing unfamiliar context and making decisions under uncertainty becomes a daily routine for any manager. Therefore, heuristics (viewed as simple decision-making algorithms) can be a useful tool for many categories of business professionals. This paper provides a review of the different ways that the scientific community analyzes heuristics in business, focusing particularly on the conscious (rational) vs. unconscious (irrational) approach; it draws upon the analogy between heuristics, proverbs and memes (as defined by Richard Dawkins) in their capacity to replicate and adapt; it also discusses, based on a narrow scope research on Romanian business professionals, the limits of heuristics and also the favorable conditions under which heuristics can become decision rules shared throughout the organization. Keywords: decisions under uncertainty; heuristics; memes; policy (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:rom:mancon:v:11:y:2017:i:1:p:1046-1053 Access Statistics for this article Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE is currently edited by Ciocoiu Nadia Carmen More articles in Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE from Faculty of Management, Academy of Economic Studies, Bucharest, Romania Contact information at EDIRC. |
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