Strategic Decision-Making in High-Velocity Markets: A Behavioral Perspective in China
DOI:
https://doi.org/10.53797/ujssh.v3i2.30.2024Keywords:
Strategic decision-making, high-velocity markets, behavioral factors, regression analysis, ChinaAbstract
This study examines the behavioral aspects affecting strategic decision-making in high-velocity marketplaces in China, which still needs to be addressed in the current literature. Due to the swift technology advancements, evolving consumer tastes, and competitive dynamics in China, decision-makers frequently depend on behavioral characteristics such as risk tolerance, overconfidence, and heuristics to address these difficulties. This research employs a quantitative methodology, utilising regression analysis to investigate the correlation between behavioural features and the efficacy of strategic decisions, encompassing their influence on decision-making speed, precision, and organisational success. The results furnish empirical proof that behavioral aspects substantially affect decision outcomes, providing practical insights for enterprises functioning in China's dynamic markets. This research enhances the theoretical comprehension of decision-making processes in emerging markets and has ramifications for improving decision-making procedures in dynamic contexts.
References
Aiken, L. S., & West, S. G. (2020). Multiple regression: Testing and interpreting interactions. Sage Publications.
Chen, X., Zhang, Y., & Li, Z. (2023). Navigating risk and uncertainty in high-velocity markets: Insights from China’s evolving business environment. PLOS ONE, 19(5), e0275603. https://doi.org/10.1371/journal.pone.0275603
Chen, X., Zhang, Y., & Li, Z. (2023). Strategic decision-making in China's high-velocity markets: Behavioural and cognitive influences. Journal of Business Research, 89(4), 1123-1134. https://doi.org/10.1016/j.jbusres.2023.04.009
Eisenhardt, K. M., & Martin, J. A. (2020). Dynamic capabilities: What are they? Strategic Management Journal, 21(10-11), 1105-1126. https://doi.org/10.1002/smj.1851
Ghoshal, S., & Bartlett, C. A. (2021). The individual and the organisation: The global context of strategic decision-making. Journal of International Business Studies, 52(8), 1495-1512. https://doi.org/10.1057/s41267-021-00468-9
Gigerenzer, G., & Gaissmaier, W. (2022). Heuristic decision making. Annual Review of Psychology, 63(1), 451-482. https://doi.org/10.1146/annurev-psych-120710-100418
Li, S., & Wang, J. (2023). The role of behavioural biases in strategic decision-making in China’s high-velocity markets. International Journal of Management Reviews, 25(2), 57-74. https://doi.org/10.1111/ijmr.12345
Pine, B. J., & Gilmore, J. H. (2022). The experience economy: Past, present, and future. Harvard Business Review, 100(4), 64-75. https://doi.org/10.1016/j.hbr.2022.03.001
Tversky, A., & Kahneman, D. (1974). Judgment under uncertainty: Heuristics and biases. Science, 185(4157), 1124-1131. https://doi.org/10.1126/science.185.4157.1124
Tversky, A., & Kahneman, D. (2023). Prospect theory: An analysis of decision under risk. Econometrica, 47(2), 263-291. https://doi.org/10.2307/1914185
Wang, L., & Wu, Y. (2023). The effect of digital transformation on strategic decision-making in China’s high-velocity markets. Technological Forecasting and Social Change, 174, 121155. https://doi.org/10.1016/j.techfore.2021.121155
Wang, M., & Li, J. (2023). Decision-making biases in high-velocity markets: Evidence from China. Management Science, 69(5), 1349-1365. https://doi.org/10.1287/mnsc.2023.4907
Zhang, Y., Chen, X., & Li, Z. (2022). Guanxi and decision-making in China's high-velocity business environment. Journal of International Business Studies, 53(7), 1247-1265. https://doi.org/10.1057/s41267-021-00467-w
Zhao, H., & Li, L. (2021). Cultural influences on business decision-making in China: A cognitive approach. International Business Review, 30(6), 101774. https://doi.org/10.1016/j.ibusrev.2021.101774
Zhou, Z., & Li, X. (2022). Behavioural economics in China: The role of decision biases in market dynamics. Journal of Economic Psychology, 84, 102392. https://doi.org/10.1016/j.joep.2022.102392
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Fei Yin, Nurul Sahadila Abd Rani
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
