Locally rational decision making: the distracting effect of information on managerial performance

Article Abstract:

The tendency for decision makers to be adversely affected by the mere occurence of information, through a distracting effect, is examined using the concept of 'locally rational' decision making. The process of rationalization is localized since decision making may be at optimum levels with regards to certain aspects of a plan, but below optimum levels in terms of the plan's final global consequences and benefits to the entire organization. The effect of locally rational decision making is examined in the context of the managerial planning of marketing strategies. Local rationality is evident from the tendency of participants in the strategic market simulation game to use supplementary data to focus on aspects of decision making that have readily available data, the generally superior performance of participants without extra data as compared to those possessing data, and the fairly similar quality of decisions made with and without such information.

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A framework for customer relationship management

Article Abstract:

Redeveloping the marketing management function could assist in the customer relationship management process.

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Understanding customer choices in e-financial services

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The viability of e-services to attain consumer values is examined.

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