A strategy for behavioral strategy: Appraisal of small, midsize, and large tent conceptions of this embryonic community

Donald C. Hambrick, Craig Crossland

Research output: Chapter in Book/Report/Conference proceedingChapter

4 Scopus citations

Abstract

Despite widespread interest in “behavioral strategy,” it is not clear what this term, or its associated academic subfield, is all about. Unless a critical mass of scholars can agree on the meaning of behavioral strategy, and professionally identify with it, this embryonic community may face a marginal existence. We describe three alternative conceptions for the academic subfield of behavioral strategy, along with assessments of the pros and cons of each. The “small tent” version amounts to a direct transposition of the logic of behavioral economics to the field of strategic management, specifically in the style of behavioral decision research. The “midsize tent” view is that behavioral strategy is a commitment to understanding the psychology of strategists. And the “large tent’ view includes consideration of any and all psychological, sociological, and political factors that influence strategic outcomes. We conclude that the midsize tent represents the best path forward, not too narrow and not too broad, allowing rich scope but with coherence. The large tent conception of behavioral strategy, however, is not out of the question and warrants serious consideration.

Original languageEnglish (US)
Title of host publicationAdvances in Strategic Management
PublisherEmerald Group Publishing Ltd.
Pages23-39
Number of pages17
DOIs
StatePublished - Jan 1 2018

Publication series

NameAdvances in Strategic Management
Volume39
ISSN (Print)0742-3322

All Science Journal Classification (ASJC) codes

  • Economics, Econometrics and Finance (miscellaneous)
  • Strategy and Management

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