Author: Dr. Dominik Dellermann Publisher: vencortex
ISBN: 1658588371
Category : Business & Economics
Languages : en
Pages : 391
Book Description
Previous studies revealed that around 75 percent of all start-ups fail at an early stage. One main reason for this tremendous failure rate is that decision-makers are typically confronted with high levels of uncertainty about the viability of their proposed business idea. Following this argumentation, entrepreneurial decisions can be defined as complex decision-making problem under both risk and uncertainty. While risk includes quantifiable probabilities, uncertainty describes situations where neither outcomes nor their probability distribution can be assessed a priori. Consequently, the strategic decision-making context is highly complex and contains lots of “black swan events” that seems to be unpredictable. As previous research does not provide any software solutions for decision augmentation in such domains, the purpose of this study is to explore the decision- making context and then suggest novel and innovative design paradigms and design principles for decision augmentation for strategic decision-making.
