The scientific adviser for the thesis: Galina V. Shirokova, Doctor of Science (Economics), Professor, Strategic and International Management Department, St. Petersburg University.
Dissertation of A.K. Laskovaya is devoted to the analysis of approaches to managerial decision-making and performance of Russian small and medium-sized entreprises (SMEs) during the economic crisis.
The focus of the dissertation is the influence of effectuation and causation, two models of decision-making, on performance of Russian small companies in highly uncertain crisis context.
During decision-making, managers face various obstacles, the key of which is uncertainty. Under conditions of high uncertainty, the principles of planning and prediction do not guarantee any benefits for firms. Therefore, it becomes necessary to address alternative flexible and adaptive decision-making models. Effectuation is a flexible and transformational cognitive decision-making logic, based on a number of behavioral principles. Planned-oriented approach (causation), in turn, brings certain benefits only under stable and predictable conditions.
The utilized data consists of Russian small and medium-sized entreprises, collected from September 2015 to February 2016 with author participation and researchers of GSOM SPbU and Far Eastern Federal University. The author made a theoretical justification and an empirical assessment of the relationship between approaches to managerial decision-making and performance of SMEs in the conditions of economic crisis and other environmental factors.
The study contributes to the development of the theoretical foundations of effectuation concept, strategic management theory and turnaround strategies. The obtained findings were explained through the lens of strategic choice concept, resource-based approach and contingency theory. The main findings of the study are of particular value for researchers working in the field of strategic management and entrepreneurship. The results of the research can be used to further study the decision-making processes taking into account various factors of the internal and external environment.