The Decision Making Models of Knowledge-Based Small and Medium Enterprises in Complex Situation and Deep Uncertainty

Document Type : Original Article

Authors

1 Arak Islamic Azad University

2 Payam-e-Noor University

Abstract

Rapid changes in today's complex world have created a situation of uncertainty for businesses. In the turbulent and chaotic business environment, technology change is on the top of the list of today's major transformations. Knowledge-based enterprises as important elements of developing and using technology are facing many challenges, such as lack of information, unknown phenomena, high risks and emerging issues, where the task of decision-making is very hard. This study aims to identify patterns of decision-making to help managers make decisions in response to dynamic market changes. The decision-making principles and models are analyzed using rational and intuitive administrative decisions models. This paper examines three main features of decision-making environments, including conditions of deep uncertainty and complexity, decision-maker (entrepreneur) and the nature of decision-making (knowledge). This study is of descriptive-survey type conducted in the University of Tehran Science and Technology Park with the participation of 130 experts and managers. The results show that the intuitive model is the main decision-making model in firms working in uncertain environment. Also, it is clearly indicated that in this model, the features of decision-making play an important role in decision-making quality.

Keywords

References

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Innovation Management Journal
Volume 2, Issue 2 - Serial Number 4
September 2013
Pages 121-150

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  • Receive Date: 01 July 2013
  • Accept Date: 29 December 2013

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