{"title":"Intellectual Structure and Scientific Evolution of Strategic Decision in the Field of Business and Management from 1971 to 2018","authors":"Harry Patria, S. Wahyuni, R. Kusumastuti","doi":"10.22452/ajba.vol12no2.9","DOIUrl":null,"url":null,"abstract":"Manuscript type: Review paper Research aims: This study aims to analyse the published works of strategic decision in business and management which have had the greatest impact and evolutionary scientific trend within the intellectual sphere. Drawing from the integrative perspective, this study attempts to: (i) investigate the intellectual structure of earlier works so as to analyse the evolution of strategic decisions; (ii) examine the evolutionary scientific trends, and (iii) identify some implications for future research in this area. Design/Methodology/Approach: This study generates its analysis based on the following bibliometric tools: (i) multidimensional data analysis using the Sankey Diagram, (ii) visual network and heat map analysis using the VOSviewer, and (3) strategic diagrams and evolution maps using the SciMAT. The methodology is based on the bibliometric technique of citation and co-citation analyses which are scientifically applied to a sample of 1,218 articles published in leading management and business journals over a period of 48 years, from 1971 to 2018. Research findings: The findings of this study plots the intellectual structure of the strategic decision as well as the evolutionary themes of the strategic decisions, for instance, decision-making and intuition (2000-2004), bounded rationality and uncertainty (2005-2009), decision support system and artificial intelligence (2010-2014), and decisionmaking and intuition (2015-2019). Overall, the results demonstrate the top scientific themes that were prevalent over a period of 48 years. The themes include: decision-making, intuition, rationality, behavioural economics, bounded rationality and investment decision. Theoretical contribution/Originality: These findings provide valuable insights which demarcate the evolution of strategic decision as viewed through the synoptic-incremental continuum of rationality, intuition and political decision process. This study also contributes to the emerging role of behavioural economics on the strategic decisionmaking process in business and management. The results also highlight the role of the incremental decision process as an intuitive and political decision that can be interactively enhanced by decisionmakers while under increased risk and uncertainty. Practitioner/Policy implications: The results of this study suggest that decision-makers need to pay attention towards building and developing the incremental process such as intuitive and political decision along with rationality so as to optimise the decision outcomes. Keywords: Strategic Decision, Decision-Making, Bibliometric Review, Business, Management, Intuition, Rationality JEL Classification: M10, Y3","PeriodicalId":54083,"journal":{"name":"Asian Journal of Business and Accounting","volume":"12 1","pages":"233-286"},"PeriodicalIF":0.8000,"publicationDate":"2019-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"12","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Asian Journal of Business and Accounting","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.22452/ajba.vol12no2.9","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 12
Abstract
Manuscript type: Review paper Research aims: This study aims to analyse the published works of strategic decision in business and management which have had the greatest impact and evolutionary scientific trend within the intellectual sphere. Drawing from the integrative perspective, this study attempts to: (i) investigate the intellectual structure of earlier works so as to analyse the evolution of strategic decisions; (ii) examine the evolutionary scientific trends, and (iii) identify some implications for future research in this area. Design/Methodology/Approach: This study generates its analysis based on the following bibliometric tools: (i) multidimensional data analysis using the Sankey Diagram, (ii) visual network and heat map analysis using the VOSviewer, and (3) strategic diagrams and evolution maps using the SciMAT. The methodology is based on the bibliometric technique of citation and co-citation analyses which are scientifically applied to a sample of 1,218 articles published in leading management and business journals over a period of 48 years, from 1971 to 2018. Research findings: The findings of this study plots the intellectual structure of the strategic decision as well as the evolutionary themes of the strategic decisions, for instance, decision-making and intuition (2000-2004), bounded rationality and uncertainty (2005-2009), decision support system and artificial intelligence (2010-2014), and decisionmaking and intuition (2015-2019). Overall, the results demonstrate the top scientific themes that were prevalent over a period of 48 years. The themes include: decision-making, intuition, rationality, behavioural economics, bounded rationality and investment decision. Theoretical contribution/Originality: These findings provide valuable insights which demarcate the evolution of strategic decision as viewed through the synoptic-incremental continuum of rationality, intuition and political decision process. This study also contributes to the emerging role of behavioural economics on the strategic decisionmaking process in business and management. The results also highlight the role of the incremental decision process as an intuitive and political decision that can be interactively enhanced by decisionmakers while under increased risk and uncertainty. Practitioner/Policy implications: The results of this study suggest that decision-makers need to pay attention towards building and developing the incremental process such as intuitive and political decision along with rationality so as to optimise the decision outcomes. Keywords: Strategic Decision, Decision-Making, Bibliometric Review, Business, Management, Intuition, Rationality JEL Classification: M10, Y3
期刊介绍：
An academic journal that aims to advance knowledge in the business and accounting disciplines, to narrow the gap between theory and practice, and to set direction for policy initiatives in Asia. Welcome to the Asian Journal of Business and Accounting (AJBA). AJBA is an international refereed journal, published biannually (30th June and 30th December) by the Faculty of Business and Accountancy, University of Malaya, Malaysia. AJBA aims to publish scholarly business researches that are relevant to Malaysia and the Asian region. It intends to highlight the practical implications in promoting better business decision making process and the formulation of public policy in Asia. This journal publishes theoretical, conceptual, and empirical papers within the broad areas of business and accounting in Asia. The AJBA covers a broad spectrum of the business and accounting disciplines. A suggestive (though not necessarily comprehensive) list of areas that would be included in this journal are: general management, strategic management, human resource management, organizational behaviour, labour and industrial relations, international business management, business communication, entrepreneurship, leadership, management science, operations management, production management, supply chain management, marketing management, brand management, consumer behaviour, information management, e-marketing, e-commerce, quality management, retailing, service marketing, hospitality management, hotel and tourism management, asset pricing, capital and money markets, corporate finance, derivatives markets, finance and banking, financial economics, etc.
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