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Cognitive biases in resource cognition: evidence from action reserach

  • 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.

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Metadaten
Document Type:Article
Language:English
Author:Niklaus LeemannORCiD, Dominik K. KanbachORCiD
Chairs and Professorships:Chair of Strategic Entrepreneurship
DOI:https://doi.org/10.1108/MD-10-2021-1379
Parent Title (English):Management Decision
ISSN:0025-1747
Volume:61
Issue:9
Date of Publication (online):2023/03/20
First Page:2784
Last Page:2791
Year of first Publication:2023
Tag:Dynamic capabilities; Dynamic managerial capabilities; Managerial cognition; Managerial cognitive capabilities; Resource cognition
Content Focus:Academic Audience
Peer Reviewed:Yes
Rankings:SJR Ranking / Q1
Licence (German):License LogoUrheberrechtlich geschützt