Vol. 7 No. 4 (2019): Business & Management Studies: An International Journal
Articles

THE SIGNIFICANCE OF INTUITION IN STRATEGIC DECISION-MAKING PROCESS: A CONCEPTUAL STUDY

Nazife Orhan ŞİMŞEK
Lect., Beykent University
Ali Ekber AKGÜN
Prof. Dr., Gebze Technical University

Published 2019-09-24

Keywords

  • Intuition; Hunches; Strategic Decision Making Process; Epistemology
  • Sezgi; Önseziler; Stratejik Karar Verme Süreci; Epistemoloji

How to Cite

ŞİMŞEK, N. O., & AKGÜN, A. E. (2019). THE SIGNIFICANCE OF INTUITION IN STRATEGIC DECISION-MAKING PROCESS: A CONCEPTUAL STUDY. Business & Management Studies: An International Journal, 7(4), 1641-1656. https://doi.org/10.15295/bmij.v7i4.1191

Abstract

The importance of intuition in decision making process has inevitably increased owing to the objectives of organizations such as protection of their existence and acquirement of sustainable competitive advantage in relation to strategic decisions. Additionally, the strategic decision-making process as a crucial part of business life, has become more complicated depending on today’s dynamic conditions that have brought intuition into the forefront. However, the number of either qualitative or quantitative studies of how intuition affects strategic decision-making process is fairly limited. Based on this idea, the main aims of this study are to scrutinize the concept of intuition; to present theoretically that intuition is an effective managerial tool in strategic decision-making process and to propose a conceptual model that explains the effect of the main antecedents of intuition on strategic decision-making performance and speed. In the first part of the study, the basic features of intuition discussed from the epistemological point of view are revealed; secondly definition and significance of strategic decision-making process are emphasized, and then the studies of intuition in strategic decision-making process are reviewed chronologically. Finally, a conceptual model based on those studies is proposed and the study is concluded with conclusion and recommendations parts.

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