VideoArticle Title/ Author(s)/Managerial Abstract
Cognitive Flexibility and Adaptive DecisionMaking | SMJ Video AbstractCognitive flexibility and adaptive decision-making: Evidence from a laboratory study of expert decision makers
Laureiro-Martinez,Daniella; Stefano Brusoni
Humans are creatures of habits. We tend to prefer known courses of action over new ones. In many cases, habits are good. However, when things change in unpredictable ways, the past may not be good guidance for the future. We argue that “cognitive flexibility”—the ability of understanding when to rely on habits vs. when to explore new courses of action—enables managers to switch from a “fast” decision mode, based on habits, to a “slow,” more deliberate decision mode that facilitates the exploration of new courses of action. Managers high in cognitive flexibility reflect on the situation at hand, recognize and value diversity in viewpoints, and integrate such diversity in their own decision processes. By valuing diversity, they are more likely to overcome inertia.
Laureiro-Martinez, Brusoni, Canessa, Zollo - Neuroscience & explore-exploit | SMJ Video AbstractUnderstanding the exploration–exploitation dilemma: An fMRI study of attention control and decision-making performance
Stefano Brusoni; Daniella Laureiro-Martínez, Nicola Canessa, Maurizio Zollo