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Show moreWhat if we could encourage association leaders to make bold and wise decision? Board members of nonprofit societies have limited time to devote to strategic issues confronting their associations. It is essential that they use their limited time productively and remain focused on strategic decision making. Therefore, this study addresses how association leadership—both boards and CEOs—consider significant issues and make decisions. The purpose is to determine how boards and staff of professional societies (associations comprised of individual memberships whose primary purpose is to provide learning and knowledge for members of the profession they represent) navigate the decision-making process and make bold and wise decisions that will ultimately help their organizations “transform society.”1 The proposed conceptual model first identifies a board effectiveness zone in which issues of major magnitude, unique or unusual frequency, and high uncertainty are considered. The key decision steps of the process are then addressed and responsibility for each step is assigned to either staff or board members. Decision factors, criteria, and decision makers are then identified to determine whether they intersect and how this intersection might encourage boards and CEOs to engage in strategic decision making. The study culminates in a research plan designed to address how associations engage in making bold and wise decisions.
Doctorate of Management Programs
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Show moreRisk is inherent in decision-making when uncertain parameters and outcomes are involved. In the creation of a new venture, both entrepreneurs and their subsequent investors assume and share a variety of risks emanating from a multitude of such uncertain parameters of the early developing venture. One such mid-stage investor, the venture capitalist, attempts to mitigate the risks of investing in a new venture by incorporating detailed market, intellectual property strategy, financial and managerial elements into his or her investment decision-making analysis. Since venture capitalists are historically successful less than 20 percent of their investments in nascent companies, it appears that despite an extensive quantitative analysis of a new venture, there is a “problem of practice”—failure to make the best possible investment the majority of the time. On the other hand, successful serial entrepreneurs create consecutive new businesses despite an overall start-up failure rate of 95%. Do successful serial entrepreneurs utilize distinctive ways of perceiving and assessing risk that venture capitalists do not appreciate? Can further knowledge be obtained by studying decision-making characteristics of successful serial entrepreneurs that could benefit both nascent entrepreneurs and venture capitalists in new business development? Can investors utilize the identification of certain entrepreneurial characteristics as an adjunctive tool in their decision-making regimen? This information can be used to predict entrepreneurial venture success bridging a “practice gap” for venture capitalists and other investors in the entrepreneurial process. This study attempts to identify and analyze differences in specific determinant traits of successful serial entrepreneurs by examining the differences of both serial entrepreneurs and venture capitalists in their qualitative decision-making processes to invest in a new venture. In addition, this study will characterize certain elements of risk perception and supporting characteristics that play a role in the risk transference between serial entrepreneurs and potential future stake holders.
Doctorate of Management Programs
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Show moreThis paper is intended to provide a conceptual framework about the importance of cognitive biases and framing in the strategic decisionmaking (SDM) processes used by corporations when addressing socially responsible actions. Through crises, regulation, activism and attempts to gain competitive advantage, companies are facing a dynamic environment requiring increased incorporation of social actions into corporate strategy. However, the nebulous nature of social actions and the inertia of bureaucracies have led to inefficient implementation of those actions. The conceptual framework developed in this paper sheds light on SDM processes involving corporate social responsibility (CSR), and lays a foundation for research in the role of cognitive biases and framing in the SDM processes.
Doctorate of Management Programs
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