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Strategic Decision Making in a Management Game
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This paper presents an experimental study of the objective formulation and policy aspects of strategic decision making, using
business gaming as a research tool. Specifically, the study
attempts to explore the objective formulation and consistency issues of group decision making in a dynamic environment. Using
multi-dimensional objective functions and a fixed performance scoring rule, certain quantitacive indices are obtained for measuring differences in objective settings (focussed vs diverse) , as well as the consistency between objectives and performance results.
Results from this study indicate that: i) Teams with
focussed objectives tended to have better performance than teams
with diverse objectives. The teams with focussed objectives also
evolved more top-down decision making organizational structure,
but with considerations of fewer alternatives. ii) The successful
teams also showed greater consistency between their performance results and the objectives that they had emphasized. iii) However,
the requiirement for formal planning and policy statements produced no significant differences in team performance although the planning and policy forms were perceived by the game participants as something potentially very useful. Instead, it is found here that proper implementation was probably a more governing factor thaii the content of planning. iv) No significant differences were observed in the general results obtained from masters student groups and business
executive groups.
Denis M. S. Lee - Personal Name
1000879271
NONE
Strategic Management
English
2013
1-95
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