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Decision making process: a comparison between family business and non-family business in the construction industry the Bayesian causal map

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Mohd Nor, Leilanie (2010) Decision making process: a comparison between family business and non-family business in the construction industry the Bayesian causal map. In: The 18th Annual High Technology Small Firms Conference : May 27-28, 2010 + May 25-26 Doctoral Workshop, University of Twente, Enschede, The Netherlands., 25 May 2010 - 28 May 2010, Enschede, The Netherlands.

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Event:The 18th Annual High Technology Small Firms Conference : May 27-28, 2010 + May 25-26 Doctoral Workshop, University of Twente, Enschede, The Netherlands., 25 May 2010 - 28 May 2010, Enschede, The Netherlands
Abstract:This is a conceptual paper in exploring the differences in decision making process between family business and non-family business in the construction industry in Malaysia. The understanding of the complexity and dynamics of a family business is becoming more prevalent among researchers. Fast decision making is not only seen as necessary but crucial to ensure speed and efficiency in responding to market opportunities and maneuvering through market uncertainties and tumultuous environment, with the intention to diversify their businesses by finding opportunities towards new venture creation. This study intends to suggest how to simplify decision making and find tactics to have quality decision making. Hence, this study will focus primarily on the decision making process which is mapped against the Bayesian causal map.
Item Type:Conference or Workshop Item (Paper)
Uncontrolled Keywords:Business ownership, Entrepreneurial cognition, Decision making, Decision making process, Family business, Entrepreneurial orientation, Opportunity recognition, New venture creation, Bayesian causal map
Link to this item:http://purl.utwente.nl/proceedings/59
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