Decision-making and Effectiveness of Business Results in Times of COVID-19

Managers often make decisions in organizations without being aware of the results and hence, their effectiveness. I evaluated three decisions managers made during the first weeks of the COVID-19 pandemic, using a hypothetical model of the decision-making process (DMP) so as to measure the percentag...

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Main Author: Carlos Arturo Hoyos-Vallejo
Format: Article
Language:English
Published: EconJournals 2021-05-01
Series:International Review of Management and Marketing
Online Access:https://www.econjournals.com/index.php/irmm/article/view/11344
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author Carlos Arturo Hoyos-Vallejo
author_facet Carlos Arturo Hoyos-Vallejo
author_sort Carlos Arturo Hoyos-Vallejo
collection DOAJ
description Managers often make decisions in organizations without being aware of the results and hence, their effectiveness. I evaluated three decisions managers made during the first weeks of the COVID-19 pandemic, using a hypothetical model of the decision-making process (DMP) so as to measure the percentage of effectiveness business results (PEBR) achieved. This article analyzes the impact of DMP on PEBR and identifies similarities and differences among top performing managers. Results reveal that the model not only predicts the PEBR, but also there are positive associations between the predictor variables that give meaning to validates the model, so I designed a comparative scenario by gender, age, company size, highlighting the profile of the managers with the best results. To understand the relationship between DMP and PEBR academics must adopt a perspective that considers not only the acceptance of decisions, but also distinguishes the association forces DMP variables; and managers can use this decision-making model to improve the process and the expected results. Practical implications, limitations and future studies are discussed. Keywords: decision-making, participation, alternatives, organizational-goals, communication, acceptance-of-change, decision-outcomes JEL Classification: M10 DOI: https://doi.org/10.32479/irmm.11344
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spelling doaj.art-e2c65d24318d4833ab5874e572e8d3c32023-02-15T16:20:48ZengEconJournalsInternational Review of Management and Marketing2146-44052021-05-01113Decision-making and Effectiveness of Business Results in Times of COVID-19Carlos Arturo Hoyos-Vallejo01. CENTRUM Católica Graduate Business School, Lima, Perú. 2. Pontificia Universidad Católica del Perú. Managers often make decisions in organizations without being aware of the results and hence, their effectiveness. I evaluated three decisions managers made during the first weeks of the COVID-19 pandemic, using a hypothetical model of the decision-making process (DMP) so as to measure the percentage of effectiveness business results (PEBR) achieved. This article analyzes the impact of DMP on PEBR and identifies similarities and differences among top performing managers. Results reveal that the model not only predicts the PEBR, but also there are positive associations between the predictor variables that give meaning to validates the model, so I designed a comparative scenario by gender, age, company size, highlighting the profile of the managers with the best results. To understand the relationship between DMP and PEBR academics must adopt a perspective that considers not only the acceptance of decisions, but also distinguishes the association forces DMP variables; and managers can use this decision-making model to improve the process and the expected results. Practical implications, limitations and future studies are discussed. Keywords: decision-making, participation, alternatives, organizational-goals, communication, acceptance-of-change, decision-outcomes JEL Classification: M10 DOI: https://doi.org/10.32479/irmm.11344 https://www.econjournals.com/index.php/irmm/article/view/11344
spellingShingle Carlos Arturo Hoyos-Vallejo
Decision-making and Effectiveness of Business Results in Times of COVID-19
International Review of Management and Marketing
title Decision-making and Effectiveness of Business Results in Times of COVID-19
title_full Decision-making and Effectiveness of Business Results in Times of COVID-19
title_fullStr Decision-making and Effectiveness of Business Results in Times of COVID-19
title_full_unstemmed Decision-making and Effectiveness of Business Results in Times of COVID-19
title_short Decision-making and Effectiveness of Business Results in Times of COVID-19
title_sort decision making and effectiveness of business results in times of covid 19
url https://www.econjournals.com/index.php/irmm/article/view/11344
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