Decision Making in Emerging Markets: The Delphi Approach's Contribution to Coping with Uncertainty and Equivocality

Item Type Journal paper
Abstract

Firms in emerging markets are particularly challenged by uncertainty and equivocality in their long-term oriented decision making. These markets are characterized by dynamic institutional contexts especially affecting the predictability of future developments in the business environment. Based on the organizational information processing theory (OIPT), we first analyze how widely applied decision theories, organizational as well as procedural approaches contribute to coping with uncertainty and equivocality in emerging markets from a decision-making perspective. Accounting for inherent information asymmetries, we then elaborate the potential of future-oriented Delphi studies to serve as an information processing aid. To demonstrate the applicability of Delphi-based studies in the context of emerging markets we draw on case examples centered on China's and India's automotive industry, India's aerospace and defense industry as well as the health insurance industry in rural India in 2020.

Authors Winkler, Jens; Kuklinski, Christian & Moser, Roger
Journal or Publication Title Journal of Business Research
Language English
Keywords Emerging markets; Uncertainty; Equivocality; Delphi; Organizational information processing; Decision theories
Subjects business studies
HSG Classification contribution to scientific community
Refereed Yes
Date 1 May 2015
Publisher Elsevier
Place of Publication New York, NY
Volume 68
Number 5
Page Range 1118-1126
Number of Pages 9
ISSN 0148-2963
ISSN-Digital 1873-7978
Depositing User Dr. Roger Moser
Date Deposited 05 Aug 2014 11:30
Last Modified 23 Aug 2016 11:19
URI: https://www.alexandria.unisg.ch/publications/233548

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Citation

Winkler, Jens; Kuklinski, Christian & Moser, Roger (2015) Decision Making in Emerging Markets: The Delphi Approach's Contribution to Coping with Uncertainty and Equivocality. Journal of Business Research, 68 (5). 1118-1126. ISSN 0148-2963

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https://www.alexandria.unisg.ch/id/eprint/233548
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