Despite the level of knowledge that has been accumulated over the years on the intricacies of decision making and strategy development there have been no attempts in the literature of strategic management to consolidate the diverse perspectives in the field in order to develop a more reflective theory that imparts better understanding on the process of decision making. This paper attempts to integrate two key viewpoints in order to take full advantage of their combined strengths to overcome their individual weaknesses and so develop a framework for decision making that portrays a more accurate and dynamic methodology in its process and it is more complete in its contents.
The paper is based on a critical examination of the relevant literature and includes the author's view on the subject.
The paper makes explicit the technical and cognitive aspects of the process of decision making and provides a holistic framework for strategy development.
Educators and companies that accentuate single‐perspective approaches to decision making create an environment that hinders individual performance and effective management practice.
The work brings together timeless academic thought and reflection in order to develop an integrative framework for decision making to elevate understanding and management practice.
