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Enhancing mental models, analogical transfer, and performance in strategic decision making

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  • Michael Shayne Gary
  • Robert E. Wood
  • Tracey Pillinger

Abstract

Recent research suggests that managers often make strategic decisions in novel situations by utilizing past experiences to reason by analogy. However, there is substantial evidence that decision makers often fail to identify and apply knowledge about one situation to a similarly structured situation. Two experimental studies investigated the mechanisms impacting knowledge transfer from one managerial situation (the source) to an analogous situation. The results show that exposure to variation in the source situation improves transfer performance. Variation decreases performance in the short term but improves learning and increases analogical transfer. Higher performance on and systematic search of the source situation also increase transfer performance. These results yield important implications for enhancing analogical transfer in strategic decision making and for future research on reasoning by analogy. Copyright © 2012 John Wiley & Sons, Ltd.

Suggested Citation

  • Michael Shayne Gary & Robert E. Wood & Tracey Pillinger, 2012. "Enhancing mental models, analogical transfer, and performance in strategic decision making," Strategic Management Journal, Wiley Blackwell, vol. 33(11), pages 1229-1246, November.
    • Handle: RePEc:bla:stratm:v:33:y:2012:i:11:p:1229-1246
    DOI: 10.1002/smj.1979
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    4. Fernando Monroy & Joel Mendoza, 2018. "The Impact Of Human Error Factors On Top Level Strategic Decision-Making: Evidence From The Mexican Steel Industry," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 12(2), pages 37-51.
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    10. Tungju Wu & Yenchun Jim Wu & Hsientang Tsai & Yibin Li, 2017. "Top Management Teams’ Characteristics and Strategic Decision-Making: A Mediation of Risk Perceptions and Mental Models," Sustainability, MDPI, vol. 9(12), pages 1-15, December.
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    14. Chen, Yi-Min & Ni, Yu-Ting & Liu, Hsin-Hsien & Teng, Ying-Maw, 2015. "Information- and rivalry-based perspectives on reactive patent litigation strategy," Journal of Business Research, Elsevier, vol. 68(4), pages 788-792.
    15. Vecchiato, Riccardo, 2020. "Analogical reasoning, cognition, and the response to technological change: Lessons from mobile communication," Research Policy, Elsevier, vol. 49(5).
    16. Hu, Maggie Rong & Li, Xiaoyang & Shi, Yang, 2019. "Adverse Selection and Credit Certificates: Evidence from a P2P Platform," ADBI Working Papers 942, Asian Development Bank Institute.
    17. Saar Van Lysebetten & Frederik Anseel & Diana R. Sanchez, 2020. "The Effects of Situation Variability in a Simulation-Based Training for Implicit Innovation Knowledge," Simulation & Gaming, , vol. 51(4), pages 477-497, August.

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