Match!

The manager's notepad: working memory, exploration, and performance

Published on Dec 1, 2019in Journal of Management Studies5.839
· DOI :10.1111/joms.12528
Daniella Laureiro-Martínez7
Estimated H-index: 7
(ETH Zurich),
Stefano Brusoni19
Estimated H-index: 19
(ETH Zurich)
+ 1 AuthorsMaurizio Zollo2
Estimated H-index: 2
(Imperial College London)
Sources
Abstract
  • References (69)
  • Citations (1)
📖 Papers frequently viewed together
2005
78% of Scinapse members use related papers. After signing in, all features are FREE.
References69
Newest
#1Dirk Martignoni (USI: University of Lugano)H-Index: 4
#2Anoop Menon (UPenn: University of Pennsylvania)H-Index: 3
Last. Nicolaj Siggelkow (UPenn: University of Pennsylvania)H-Index: 22
view all 3 authors...
Research summary: Mental models, reflecting interdependencies among managerial choice variables, are not always correctly specified. Mental models can be underspecified, missing interdependencies, or overspecified, containing nonexistent interdependencies. Using a simulation model, we find that under- and overspecification have opposite effects on exploration, and thereby, performance. The effects are also opposite, depending on whether a manager controls all choice variables. The mechanism unde...
13 CitationsSource
#1Nils Stieglitz (Frankfurt School of Finance & Management)H-Index: 13
#2Thorbjørn Knudsen (University of Southern Denmark)H-Index: 24
Last. Markus C. Becker (University of Southern Denmark)H-Index: 21
view all 3 authors...
Research summary: We address conflicting claims and mixed empirical findings about adaptation as a response to increased environmental dynamism. We disentangle distinct dimensions of environmental dynamism—the direction, magnitude, and frequency of change—and identify how selection shapes adaptive responses to these dimensions. Our results show how frequent directional changes undermine the value of exploration and decisively shift performance advantages to inert organizations that restrict expl...
28 CitationsSource
#1Stuart Russell (UC: University of California)H-Index: 61
The long-term goal of AI is the creation and understanding of intelligence. This requires a notion of intelligence that is precise enough to allow the cumulative development of robust systems and general results. The concept of rational agency has long been considered a leading candidate to fulfill this role. This paper, which updates a much earlier version (Russell, Artif Intell 94:57–77, 1997), reviews the sequence of conceptual shifts leading to a different candidate, bounded optimality, that...
14 CitationsSource
#1Constance E. Helfat (Dartmouth College)H-Index: 33
#2Margaret A. Peteraf (Dartmouth College)H-Index: 21
type="main" xml:id="smj2247-abs-0001"> The microfoundations of dynamic capabilities have assumed greater importance in the search for factors that facilitate strategic change. Here, we focus on microfoundations at the level of the individual manager. We introduce the concept of “managerial cognitive capability,” which highlights the fact that capabilities involve the capacity to perform not only physical but also mental activities. We identify specific types of cognitive capabilities that are li...
338 CitationsSource
#1Daniella Laureiro-Martínez (ETH Zurich)H-Index: 7
#2Stefano Brusoni (ETH Zurich)H-Index: 19
Last. Maurizio Zollo (Bocconi University)H-Index: 27
view all 4 authors...
This paper studies the cognitive processes that enable decision makers to switch between exploitation and exploration. We use functional magnetic resonance imaging (fMRI) in a sample of expert decision makers to make two main contributions. First, we identify and contrast the specific brain regions and cognitive processes associated with exploitation and exploration decisions. Exploitation activates regions associated with reward seeking, which track and evaluate the value of current choices, wh...
105 CitationsSource
#1Francesco Castellaneta (UCP: Catholic University of Portugal)H-Index: 4
#2Maurizio Zollo (Bocconi University)H-Index: 27
Drawing on the attention-based view of the firm and the experiential learning literature, this paper develops and tests a theory on how firms learn to cope with the strains of activity load. We first empirically test the impact of activity load on the performance of a focal activity. We then study how this relationship is moderated by four dimensions of experiential learning: stock, homogeneity, pacing, and past success. We test our hypotheses on a proprietary database of 6,913 investments by 24...
21 CitationsSource
#1Sabine MehlhornH-Index: 1
#2Ben R. Newell (UNSW: University of New South Wales)H-Index: 33
Last. Cleotilde Gonzalez (CMU: Carnegie Mellon University)H-Index: 27
view all 9 authors...
Many decisions in the lives of animals and humans require a fine balance between the exploration of different options and the exploitation of their rewards. Do you buy the advertised car, or do you test drive different models? Do you continue feeding from the current patch of flowers, or do you fly off to another one? Do you marry your current partner, or try your luck with someone else? The balance required in these situations is commonly referred to as the exploration– exploitation tradeoff. I...
59 CitationsSource
#1Pol Herrmann (Iowa State University)H-Index: 13
#2Sucheta Nadkarni (Drexel University)H-Index: 19
Using the five factor model (FFM) of personality, we delineate two distinct roles of CEO personality in managing strategic change: initiating strategic change and determining the performance effects of strategic change implementation. Based on data from 120 small- and medium-sized enterprises (SMEs) in Ecuador, we found that some FFM traits of CEOs influenced initiation only (extraversion and openness), others similarly influenced initiation and performance effects of implementation (emotional s...
73 CitationsSource
This paper examines the cognitive and behavioral foundations of decision making at the individual level. It is based on a study conducted with 86 graduate students and a model that combines the highly mindful cognitive control capabilities and the less-mindful routinization propensity to explain decision-making performance.The paper offers three contributions. First, I introduce and empirically observe cognitive control capabilities, i.e., the supervisory cognitive mechanisms through which indiv...
17 CitationsSource
#1Daniella Laureiro-Martínez (ETH Zurich)H-Index: 7
#2Nicola CanessaH-Index: 20
Last. Stefano F. CappaH-Index: 72
view all 7 authors...
An optimal balance between efficient exploitation of available resources and creative exploration of alternatives is critical for adaptation and survival. Previous studies associated these behavioral drives with, respectively, the dopaminergic mesocorticolimbic system and frontopolar-intraparietal networks. We study the activation of these systems in two age and gender-matched groups of experienced decision-makers differing in prior professional background, with the aim to understand the neural ...
25 CitationsSource
Cited By1
Newest
#1Philip Bromiley (UC: University of California)H-Index: 1
#2Rouslan Koumakhov (NEOMA Business School)H-Index: 1
Last. William H. Starbuck (NYU: New York University)H-Index: 35
view all 4 authors...
Source