Career motives and entrepreneurial decision-making: examining preferences for causal and effectual logics in the early stage of new ventures

The influence of entrepreneurs’ career motives is examined on two alternative modes of decision-making logic; causation and effectuation. Based on Sarasvathy’s (Acad Manage Rev 26(2):243–288, 2001) seminal study, causation is defined as a decision-making process that focuses on what ought to be done given predetermined goals and possible means, and effectuation as a decision-making process emphasizing the question of what can be done given possible means and imagined ends. Analysis suggests that entrepreneurs who identify themselves with linear or expert career motives have a higher preference for causal decision-making logic. Entrepreneurs who identify themselves with spiral or transitory career motives have a higher preference for effectual decision-making logic. In addition, indications that prior start-up experience moderates the relationship between career motives and effectual decision-making logic for spiral-minded entrepreneurs is found. The overall results give ample support for the assumption that entrepreneurs’ career motives influence their decision-making.     

The Role of the DS/AHP in Identifying Inter-Group Alliances and Majority Rule Within Group Decision Making

DS/AHP is a nascent method of multi-criteria decision-making, based on the Dempster-Shafer theory of evidence and indirectly the Analytic Hierarchy Process. It is concerned with the identification of the levels of preference that decision makers have towards certain decision alternatives (DAs), through preference judgements made over a number of different criteria. The working result from a DS/AHP analysis is the body of evidence (BOE), which includes a series of mass values that represent the exact beliefs in the best DA(s) existing within certain subsets of DAs. This paper considers the role of DS/AHP as an aid to group decision-making, through the utilisation of a distance measure (between BOEs). Here, the distance measure enables the identification of the members of the decision-making group who are in most agreement, with respect to the judgements they have individually made. The utilisation of a single linkage dendrite approach to clustering elucidates an appropriate order to the aggregation of the judgements of the group members. This develops the DS/AHP method as a tool to identify inter-group alliances, as well as introduce a ‘majority rule’ approach to decision-making through consensus building.     

A Fuzzy Stochastic Multi-Attribute Group Decision-Making Approach for Selection Problems

The purpose of this paper is to demonstrate how the fuzzy and stochastic approaches as well as multi-attribute group decision-making techniques can be effectively utilized for selection problems in different kinds of uncertainty situations. A group of the decision makers describes a value for an alternative with respect to an attribute by the use of linguistic variables. The rating of each alternative is aggregated, which can be expressed as triangular fuzzy numbers. Then Monte Carlo simulation is applied to generate the performance distribution of alternatives with respect to different attributes in an uncertain environment. Finally, a stochastic compromise ranking technique, known as the VIKOR technique, is developed to evaluate probability distributions for each alternative on each attribute and to prioritize them. The proposed fuzzy stochastic approach is suitable to compromise a solution among the conflicting tangible and intangible attributes under the group decision-making process. In addition, an application of the proposed approach is provided to solve the important risk selection problem in a highway project. The results illustrate its real-life applicability and suitability in discrete group decision-making under uncertainty.     

An Extended PROMETHE II Multi-Criteria Group Decision Making Technique Based on Intuitionistic Fuzzy Logic for Sustainable Energy Planning

The implementations of Preference Ranking Organization Method for Enrichment Evaluation (PROMETHEE) category to complex multi-criteria group decision making (MCGDM) scenarios have been included in thousands areas. Outranking methods such as PROMETHEE II are also greatly employed in energy planning application. In MCGDM methods if decision makers (DMs) are not able to treat precise data in order to define their preferences, the intuitionistic fuzzy set (IFS) theory enables them. IFS attributes are connected with the degree of membership and non-membership, and can be used to draw uncertainty in group decision-making situations. In this paper, a new version of the PROMETHEE II method is proposed, aiming at solving MCGDM problems. Linguistic variables are expressed in the membership function and non-membership function of IFS which are used to assess the weights of all criteria and the ratings of each alternative with respect to each criteria. Conditional normalized Euclidean distance measure is adopted to measure deviations between alternatives on intuitionistic fuzzy set. Then, a ranking algorithm is applied to indicate the order of superiority of alternatives. Finally, a practical example is given to an application of sustainable energy planning to verify our proposed method. Additionally, a comparative analysis is done among the proposed PROMETHEE II method and the intuitionistic fuzzy technique for order preference by similarity to ideal solution (IF-TOPSIS) method and elimination and choice translating reality method (IF-ELECTRE).     

An Experimental Investigation of Emotions and Reasoning in the Trolley Problem

Elaborating on the notions that humans possess different modalities of decision-making and that these are often influenced by moral considerations, we conducted an experimental investigation of the Trolley Problem. We presented the participants with two standard scenarios (‹lever’ and ‹stranger’) either in the usual or in reversed order. We observe that responses to the lever scenario, which result from (moral) reasoning, are affected by our manipulation; whereas responses to the stranger scenario, triggered by moral emotions, are unaffected. Furthermore, when asked to express general moral opinions on the themes of the Trolley Problem, about half of the participants reveal some inconsistency with the responses they had previously given.     

Multicriteria Group Decision-Making Method Using Vector Similarity Measures For Trapezoidal Intuitionistic Fuzzy Numbers

Based on the extension of the Jaccard, Dice, and cosine similarity measures, three vector similarity measures between trapezoidal intuitionistic fuzzy numbers (TIFNs) are proposed in the vector space and are applied to the fuzzy multicriteria group decision-making problem, in which the criteria weights and the evaluated values in decision matrix are expressed by TIFNs. Through the weighted similarity measures between each alternative and the ideal alternative, the ranking order of all the alternatives can be determined and the best one(s) can be easily identified as well. A practical example of the developed approaches is given to select the investment alternatives. The decision results of different similarity measures demonstrate that the three similarity measures have better similarity identification. The illustrative example shows that the proposed methods are applicable.     

The Use of Ranking Veto Concept to Mitigate the Compensatory Effects of Additive Aggregation in Group Decisions on a Water Utility Automation Investment

The use of additive models for aggregating group decisions implies they have a compensatory effect in the process of aggregating all decision makers’ (DMs’) preferences. In this kind of model, the final result may produce some extremely undesirable alternatives for one or more DMs. Such alternatives may emerge with a higher ranking than desirable ones, thus generating conflicts and regrets. To overcome this problem the concept of ranking veto is introduced based on a reduction factor combined with the utility of the alternative in order to penalize conflicting alternatives and reduce disagreements in an additive model. A water utility problem was considered as a numerical application to illustrate the model. A decision group method based on MAUT, utility thresholds and a reduction factor is proposed to support group decision in selecting regions that will receive investments in automation over the next 4 years.     

Sartrean Existentialism and Ethical Decision-Making in Business

A wide range of decision-making models have been offered to assist in making ethical decisions in the workplace. Those that are based on normative moral frameworks typically include elements of traditional moral philosophy such as consequentialist and/or deontological␣ethics. This paper suggests an alternative model drawing on Jean-Paul Sartre’s existentialism. Accordingly, the model focuses on making decisions in full awareness of one’s freedom and responsibility. The steps of the model are intended to encourage reflection of one’s projects and one’s situation and the possibility of refusing the expectations of others. A case study involving affirmative action in South Africa is used to demonstrate the workings of the model and a number of strengths and weaknesses are identified. Despite several weaknesses that can be raised regarding existential ethics, the model’s success lies in the way that it reframes ethical dilemmas in terms of individual freedom and responsibility, and in its acceptance and analysis of subjective experiences and personal situations. Andrew West is a Lecturer in the School of Business and Economics at the South African Campus of Monash University, and a doctoral candidate at the University of Pretoria.     

Procedural Instrumentality and Audit Group Judgment: An Exploration of the Impact of Cognitive Fallibility and Ability Differences

The issue of auditor judgment prowess and resultant decision-making success has been an important topic in the behavioral auditing area for many years and has generated a voluminous research literature. However, relatively little literature exists on how differences in individual group member cognitive heuristics (fallibility) and ability impact the group process, and are impacted upon by the group process. This issue is important since so much of audit firm decision-making has its origins in audit group deliberations (Hunton 2001). Accordingly, understanding circumstances that give rise to either more flawed (‘process losses’), or better (‘process gains’), group decision-making outcomes are important even though the literature generally recognizes the superiority of group over individual decision-making (e.g., Rich et al. 1997). The model developed here is intended to develop a better understanding of cognitive factors that impact positively or negatively on audit group process. We then develop a four stage model of group decision-making, during which the differing assets and liabilities (cognitive, ability, expertise) of audit group members are combined. The four stages are diversity, controvery, insight and resolution. These are then described at length.     

Managers’ Moral Decision-Making Patterns Over Time: A Multidimensional Approach

Taking multidimensional ethics scale approach, this article describes an empirical survey of top managers’ moral decision-making patterns and their change from 1994 to 2004 during morally problematic situations in the Finnish context. The survey questionnaire consisted of four moral dilemmas and a multidimensional scale with six ethical dimensions: justice, deontology, relativism, utilitarianism, egoism and female ethics. The managers evaluated their decision-making in the problems using the multidimensional ethics scale. Altogether 880 questionnaires were analysed statistically. It is concluded that relying on the utilitarian principles is a core ethical evaluation criterion amongst top business managers in Finland. This study proves that managers’ moral decision-making patterns change over time. According to the results of this research, managers’ moral decision-making became more multidimensional during the study period. The change is explained by (1) the inclusion of female ethics items in the scale which allows managers to show more diversity in their decision- making, (2) the change in the Finnish economic context from depression to economic prosperity and growth during the study period, which is conducive to the spread of post materialist values, such as the importance of social relations and (3) the increasing public discussion of the importance ethical issues in business.     

Aggregation of Individual Preference Structures in Ahp-Group Decision Making

This paper presents a new procedure, to which we have given the name Aggregation of Individual Preference Structures (AIPS), whose objective is to deal with multiactor decision making when using Analytic Hierarchy Process (AHP) as the methodological support. This procedure incorporates ideas similar to Borda count methods and transfers to the case of preference structures the principle of aggregation employed in the two approaches traditionally followed in AHP-group decision making (aggregation of individual judgments and aggregation of individual priorities). The new aggregation method allows us to capture: (i) the richness of uncertainty inherent to human beings; (ii) the vision of each decision maker within the context of the problem; (iii) the interdependencies between the alternatives being compared and (iv) the intensities of the preferences that each decision maker gives to these interdependencies. From the preference structure distribution associated to each decision maker, this new approach (AIPS) provides the holistic importance of each alternative and ranking, as well as the most representative preference structure distribution for the group. The knowledge derived from these could be employed as an initial step in the search for consensus, which characterises the negotiation processes followed by the actors involved in the resolution of decisional problems. An earlier version of this paper was presented at the GDN2005 Conference held at Vienna. The work has been partially funded under Research Projects “Electronic Government. Internet-based Complex Decision Making: e-democracy and e-cognocracy” (Ref. PM2004-052) and “Internet-based Complex Decision Making. Decisional Tools for e-cognocracy” (Ref. TSI2005-02511).     

Fuzzy Group Decision Making for the Selection of Facility Location

In this paper, fuzzy group decision making based on extension of TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) method which was proposed by Chen (Fuzzy Sets Syst, 114:1–9, 2000) is adopted for facility location selection. In this method, the ratings of various alternatives versus various subjective criteria and the weights of all criteria are assessed in linguistic variables represented by fuzzy numbers. By fuzzy numbers, it has been tried to resolve the ambiguity of concepts that are associated with human being’s judgments. To determine the order of the alternatives, closeness coefficient is defined by calculating the distances to the fuzzy positive ideal solution (FPIS) and fuzzy negative ideal solution (FNIS). In Chen’s approach, the distance between two fuzzy numbers is calculated with vertex method. But in this study, different distance measurement methods are used and the results are compared. Finally the proposed method has been applied to a facility location selection problem of a textile company in Turkey.     

Planning,consciousness and conscience

Contemporary perspectives on conciousness provide us with a powerful metaphor for the corporate planning process; although organisations ultimately differ, in systems terms, from organisms. Like consciousness, planning has survival value and confers operational advantages. Whereas individuals' actions may be guided by conscience, in pursuit of ideals, corporate acts often lack these qualities. It may be that no diffuse planning process is capable of accomodating ideals and ethical standards, they are ‘beyond’ Corporate Consciousness. Therefore, the pursuit of corporate objectives will often conflict with individuals' ideals. He published various articles in the MagazineAccountancy, among others: ‘Facing the Facts’ (October 1983), ‘Motivation & Budgeting’ (March 1982) and ‘Taking “Right-Minded” Decisions’ (October 1981).     

Informed Consent Out of Context

Several attempts have been made to transfer the concept of informed consent from medical and research ethics to dealing with affected groups in other areas such as engineering, land use planning, and business management. It is argued that these attempts are unsuccessful since the concept of informed consent is inadequate for situations in which groups of affected persons are dealt with collectively (rather than individually, as in clinical medicine). There are several reasons for this. The affected groups from which informed consent is sought cannot be identified with sufficient precision. Informed consent is associated with individual veto power, but it does not appear realistic to give veto power to all individuals who are affected for instance by an engineering project. Most importantly, the concept of informed consent puts focus on the public’s acceptance of ready-made proposals rather than on its participation in the decision-making process as a whole, which includes the development of alternatives for the decision. Therefore, the concept of informed consent is not applicable to a company’s relations with groups and collectives. It may, however, be applicable to a company’s relations with individual persons such as customers and employees.     

A risk-based decision support framework for selection of appropriate safety measure system for underground coal mines

In the context of underground coal mining industry, the increased economic issues regarding implementation of additional safety measure systems, along with growing public awareness to ensure high level of workers safety, have put great pressure on the managers towards finding the best solution to ensure safe as well as economically viable alternative selection. Risk-based decision support system plays an important role in finding such solutions amongst candidate alternatives with respect to multiple decision criteria. Therefore, in this paper, a unified risk-based decision-making methodology has been proposed for selecting an appropriate safety measure system in relation to an underground coal mining industry with respect to multiple risk criteria such as financial risk, operating risk, and maintenance risk. The proposed methodology uses interval-valued fuzzy set theory for modelling vagueness and subjectivity in the estimates of fuzzy risk ratings for making appropriate decision. The methodology is based on the aggregative fuzzy risk analysis and multi-criteria decision making. The selection decisions are made within the context of understanding the total integrated risk that is likely to incur while adapting the particular safety system alternative. Effectiveness of the proposed methodology has been validated through a real-time case study. The result in the context of final priority ranking is seemed fairly consistent.     

Emotional Factors in Currency Perception

People may fill currencies with moral and emotional meanings and become attached to currencies in a similar way that they are attached to a brand. Such meanings and affective attachments to a currency may result in people’s resistance to proposed currency changes as well as playing a significant role in everyday consumer behaviour. Following Tajfel’s accentuation theory, it is shown in two studies that (1) opinions that prices in a currency (labelled an “expensive currency”) are high result in perception of prices in this currency as higher than prices in another currency, and that (2) positive affect attached to a currency results in perception of prices in this currency being higher than prices expressed in a currency which is not emotionally laden.     

An Exploratory Study into the Factors Impeding Ethical Consumption

Although consumers are increasingly engaged with ethical factors when forming opinions about products and making purchase decisions, recent studies have highlighted significant differences between consumers’ intentions to consume ethically, and their actual purchase behaviour. This article contributes to an understanding of this ‘Ethical Purchasing Gap’ through a review of existing literature, and the inductive analysis of focus group discussions. A model is suggested which includes exogenous variables such as moral maturity and age which have been well covered in the literature, together with further impeding factors identified from the focus group discussions. For some consumers, inertia in purchasing behaviour was such that the decision-making process was devoid of ethical considerations. Several consumers manifested their ethical views through post-purchase dissonance and retrospective feelings of guilt. Others displayed a reluctance to consume ethically due to personal constraints, a perceived negative impact on image or quality, or an outright negation of responsibility. Those who expressed a desire to consume ethically often seemed deterred by cynicism, which caused them to question the impact they, as an individual, could achieve. These findings enhance the understanding of ethical consumption decisions and provide a platform for future research in this area.     

Private Equity and the Public Good

The dominance of agency theory can reduce our collective scope to analyse private equity in all its diversity and depth. We contribute to theorisation of private equity by developing a contrasting perspective that draws on a rich tradition of virtue ethics. In doing so, we juxtapose ‘private equity’ with ‘public good’ to develop points of rhetorical and analytical contrast. We develop a typology differentiating various forms of private equity, and focus on the ‘take private’ form. These takeovers are where private equity funds are used to buy all a firm’s publicly listed shares. Take private deals reduce reporting requirements and lessen the amount of public scrutiny a firm comes under. They allow greater control of a firm’s assets and resources but also have effects in terms of the wider social fabric. The ‘public good’ and virtue ethics offer an alternative basis for theorisation of these deals. This provides a needed contrast to accounts of private equity based on agency theory.     

Organizational Role and Environmental Uncertainty as Influences on Ethical Work Climate in Military Units

In addition to a person’s character and training, the organization’s ethical work climate (EWC) can assess how the organization influences an individual’s ethical decision-making process by examining the individuals’ perception of “what is the right thing to do” in a particular organizational environment. Relatively little research has explored which EWCs dominate military units and the impact of organizational role and environmental uncertainty on individuals in the military and their ethical decision making. In this study, we examined the predominant EWCs among military units and found that certain organizational influences are associated with the specific EWCs. Based on these discoveries, we discuss the implications of EWC studies and the influence of organizational role and environmental uncertainty for researchers, as well as military leaders.     

A Deviation-Based Approach to Intuitionistic Fuzzy Multiple Attribute Group Decision Making

The aim of this article is to investigate the approach to multiple attribute group decision making (MAGDM) with intuitionistic fuzzy information. We first introduce a deviation measure between two intuitionistic fuzzy numbers, and then utilize the intuitionistic fuzzy hybrid aggregation operator to aggregate all individual intuitionistic fuzzy decision matrices into a collective intuitionistic fuzzy decision matrix. Based on the deviation measure, we develop an optimization model by which a straightforward formula for deriving attribute weights can be obtained. Furthermore, based on the intuitionistic fuzzy weighted averaging operator and information theory, we utilize the score function and accuracy function to give an approach to ranking the given alternatives and then selecting the most desirable one(s). In addition, we extend the above results to MAGDM with interval-valued intuitionistic fuzzy information.