@article{LeemannKanbach2023,
  author    = {Leemann, Niklaus and Kanbach, Dominik K.},
  title     = {Cognitive biases in resource cognition: evidence from action reserach},
  journal   = {Management Decision},
  volume    = {61},
  number    = {9},
  issn      = {0025-1747},
  doi       = {10.1108/MD-10-2021-1379},
  institution = {Chair of Strategic Entrepreneurship},
  pages     = {2784 -- 2791},
  year      = {2023},
  abstract  = {Purpose Resource cognition - identifying valuable resources and capabilities and assessing their potential for redeployment - is a pivotal management capability for strategic renewal. This study explores how managerial cognition in this activity may be biased, leading to erroneous results. Design/methodology/approach This study employs an action research approach: A full resource cognition project was conducted together with the top management of a case firm, including the CEO and members of the supervisory board. Findings Resource cognition may be distorted by four cognitive biases: The insulation bias - tending to keep one's perspective insularly to the current business; the novelty bias - tending to exclusively focus on innovation and recent achievements; the status quo bias - tending to view opportunities from the current situation and structural set-up; and the scaffolding bias - tending to adopt concepts and examples indiscriminately to the firm. Originality/value Active participation in a resource cognition project provided first-hand and insightful practice-based evidence on resource cognition.},
  language  = {en}
}