A Critical Analysis of Superstitious Business Practices in Strategic Management

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Woo, Catherine (2009) A Critical Analysis of Superstitious Business Practices in Strategic Management. [Dissertation (University of Nottingham only)] (Unpublished)

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Abstract

Superstition has a very long history in influencing human behaviours, which implies supernatural beliefs play an significant role in influencing the human decision making process, which affects the way business decisions are made and the formation of strategies in a business context. This influence should not be underestimated, yet this promising area has been ignored by many researchers in the past, so this study investigates the role of superstition in a resource-based approach to business strategy and decision making.

The findings of this study suggest supernatural advices provide a form of psychological support in the presence of uncertainty: relieves uncertainty caused stress and frustration by providing the decision maker the illusion of control. The resultant positive influences are very similar to the positive influences associated with a charismatic leader: help reduces the stress level of staff, encourage confidence and motivation. In turn, these may allow the business decision makers to make more informed decisions due to being able to think more clearly and try different ways to achieve the aim, instead of denying problems and abandoning the projects at an early stage to avoid the uncertainty. Evidence also shows supernatural advice carry important functional values of reducing observations of false patterns, provision of future market opportunity information and identification of the overlooked existing resource capacity, which can help form competitive advantage of businesses if advices are employed with care.

Item Type: Dissertation (University of Nottingham only)
Depositing User: EP, Services
Date Deposited: 14 Jul 2009 10:27
Last Modified: 15 Feb 2018 10:24
URI: https://eprints.nottingham.ac.uk/id/eprint/22654

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