Antecedents of Successful Decision Making: The Role of Experience, Decision Environment and Decision Type

The paper outlines a study undertaken to identify the types of impact that prior experience, the decision environment and the decision type could have upon the performances and outcomes of the decisions made. The objective was to portray the relationships between decision performances, prior experience, decision environments and decision types in order to offer advice in the building of decision support systems. Survey data was collected in a large Bangladeshi pharmaceutical company which supported the hypotheses that managers’ prior experience is positively related to the decision performance. Moreover, decision performance is affected by uncertainty in the business environment where the decisions are made and the level of un-structuredness of the business decisions. These findings from a developing country correspond to research in developed countries. The implications of this study are that organizations need to actively consider who is taking the decisions within the organization and how likely they are to be able to make effective decisions based upon their career history and levels of experience.

JEL Codes: M10, M19

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