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STRATEGIC PROBLEM FORMULATION: BIASES AND ASSUMPTIONS EMBEDDED IN ALTERNATIVE DECISION‐MAKING MODELS
Author(s) -
Lyles Marjorie A.,
Thomas Howard
Publication year - 1988
Publication title -
journal of management studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.398
H-Index - 184
eISSN - 1467-6486
pISSN - 0022-2380
DOI - 10.1111/j.1467-6486.1988.tb00028.x
Subject(s) - management science , process (computing) , strategic planning , point (geometry) , computer science , decision theory , decision making , economics , operations research , mathematical economics , microeconomics , mathematics , management , operations management , geometry , operating system , purchasing
This article reviews the major theoretical approaches to strategic decision‐making and identifies how each treats the process of problem formulation. Five models of strategic decision‐making are analysed to determine the assumptions and biases made about strategic problem formulation. Successful strategic problem formulation is described and proposed as a beginning point for future research. Some constructs for further theory development are addressed.