Improving managerial decision making through individual behavioural factors
2016
Kyguoliene, A., Vytautas Magnus Univ., Kaunas (Lithuania) | Bakanauskiene, I., Vytautas Magnus Univ., Kaunas (Lithuania)
Recently decision making is analysed in the context of uncertainty, thus, successful decision making more often is related with personality of decision maker and other decision making participants. In rural sector, where small organizations – farms dominate, farmer as managerial decision maker is the most important person. Welfare of farm as well as welfare of people working on the farm depends on farmer‘s as decision maker‘s capabilities to make right decisions, to adapt successfully in changing environment. Therefore, it is very important to understand, what behavioural factors of farmer as a manager can influence decision making. The problem “what individual behavioural factors and how they affect decision maker“ is analysed in this paper. The aim of the paper is to determine individual behavioural factors of managerial decision making and discuss their management. Analysis of scientific literature and content analysis are used for identification of factors. The authors’ contribution to this paper is the analysis of behavioural factors in a context of their impact on decision making. Individual behavioural factors are analysed in subcategories as negative, positive and both negative and positive impact making factors. At the end of the paper proposals and recommendations for behavioural factors management is presented.
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