Behavioral Strategy and the COVID-19 Disruption
Journal of Management · 2020 · Volume 46 · Issue 8
Abstract
What can strategic management research do to help to make sense of the COVID-19 disruption, and what are the implications of the disruption for the strategy field? I argue that among the streams in strategy research, behavioral strategy is uniquely situated in terms of providing a psychologically based interpretive lens that could lend great insight into decision making in extreme conditions. However, the disruption also points to weakness in current behavioral strategy thinking, notably with respect to the role of models vis-à-vis judgment in strategic decision making, the deeply social (political, institutional) nature of strategy making, and the treatment of fundamental uncertainty.
Keywords
behavioral strategy, CEO decision making, decisions under risk/uncertainty
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