Holistic Decision Making and Long Term Firm Performance
Miguel Angel Ariño
University of Navarra - IESE Business School
Juan Carlos Vazquez-Dodero
University of Navarra, IESE Business School
S. Ramakrishna Velamuri
September 5, 2008
We propose a holistic managerial decision making framework that requires managers to take into consideration the three impact dimensions of any decision involving interactions with stakeholders, internal or external. The impact dimensions are a) effectiveness b) operative learning and c) relational learning. We posit that holistic decision making is a managerial competence. We submit that an organization whose managers systematically take into consideration these three impact dimensions in their decision making is more likely to achieve superior long term performance. We discuss the implications for researchers, practitioners and educators of our framework.
Keywords: Decision making, holistic, stakeholders, strategic capabilities, leadership, long term performance
JEL Classification: M10, L21, G30, D81, D83working papers series
Date posted: September 9, 2008
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