Volume 59 Issue 3

Special Issue on Behavioral Strategy

Behavioral Strategy and the Strategic Decision Architecture of the Firm
by Olivier Sibony, Dan Lovallo, and Thomas C. Powell

Dismissing a Tarnished CEO? Psychological Mechanisms and Unconscious Biases
by Libby Wever and Margarethe Wiersema

Toehold Acquisitions as Behavioral Real Options
by Han T. J. Smit and Joris C. M. Kil

Sleepwalking into Catastrophe: Cognitive Biases and Corporate Climate Change Intertia
by Daina Mazutis and Anna Eckardt

Making Strategy Hot
by Mark P. Healey and Gerard P. Hodgkinson

Strategizing with Biases: Making Better Decisions Using the Mindspace Approach
by Chengwei Liu, Ivo Vlaev, Christina Fang, Jerker Denrell, and Nick Chater

Strategy as Diligence: Putting Behavioral Strategy into Practice
by Thomas C. Powell

Core Concepts

Decision-Making in Organizations
New research has shown that the world’s best managers can overcome biases and reliably make effective decisions by following an approach called diligence-based strategy, a systematic focus on the firm's most essential operational abilities.

Overcoming Cognitive Biases in Business
Cognitive biases affect our decision-making every day. This video examines four major categories of bias, and how those errors of thinking have shaped the corporate response to the issue of climate change.