Normative and descriptive perception of strategic decision making

¹ University of Economics in Bratislava, Faculty of Business Management, 852 35 Bratislava, Slovakia
² University of Economics in Bratislava, Faculty of Business Management, 852 35 Bratislava, Slovakia

^* Corresponding author : nadezda.jankelova@euba.sk

Abstract

During historical development a greater number of decision theories were gradually conceived. Their differences arise from the normative and descriptive characters of individual theories. They differ in basic assumptions such as rationality, available information or choice of a decision. In practical life, they are manifested by accentuation of rational, or even intuitive decision making. This article is devoted to the definition of both types of theories and subsequent examination of the level of rationality in strategic decision making of managers. The findings have shown, that managers use more rational approach than intuitive approach. The most important factors that influence the level of rationality in strategic decision making were external factors. The most important of them has been assigned to a group of competition factors. Other factors influencing the level of rationality in strategic decision-making have been identified, namely the factors of the decision itself and factors of the internal environment. Managers combine rationality with strategic decision-making activities to take advantage of opportunity of an environment. The emphasis in the degree of impact on rationality in strategic decision-making is significant in favor of using the factors of the decision itself. The dependence of the perception of factors of the decision itself was significant in the variable economy.