Guest editorial: Behavioral strategy: (re-) affirming foundations

• Published in: Management research news 2022-08, Vol.45 (9), p.1101-1109
• Main Authors: Cristofaro, Matteo, Butler, Frank, Neck, Christopher, Parayitam, Satyanarayana, Tangpong, Chanchai
• Format: Article
• Language: English
• Subjects: Cognition & reasoning; Cognitive psychology; Consumer behavior; Consumers; Decision making; Editorials; Heuristic; Performance management; Strategic management
• ISSN: 2040-8269; 2040-8277; 2040-8269
• DOI: 10.1108/MRR-09-2022-877

Behavioral strategy aims to bring realistic assumptions about human cognition, emotions and social behavior to the strategic management of organizations and, thereby, to enrich strategy theory, empirical research and real-world practice” (Powell, 2011, p. 1371). [...]while there is an established school of thought that we refer to as the “Kahnemanian” (Kahneman, 2011) school that advances heuristics as second-best tools for making a judgment, there is a second school that we can define as the “Gigerenzian” (Gigerenzer and Selten, 2001) school that is trying to prove how heuristics can lead to better (or at least guaranteeing a more efficient mental process in resource terms) strategic decisions. [...]14 passionate behavioral strategy scholars produced eight excellent works accepted for publication in this Special Issue. By adopting a mixed qualitative–quantitative analysis, authors found that recurring cognitive biases, together with considerable impacts, emerged in the first, and most strategic, phases of the PMS implementation, i.e. drawing strategies and plans. [...]the authors developed a roadmap to support the corporate transition to integrate behavioral strategy into the PMS implementation aiming to achieve economically and efficiently sound performance.