Strategic decision-making process (SDMP) in times of crisis: Evidence from Greek banks

Eleni Aravopoulou, Mohamed Branine, Merlin Stone, Fotios V. Mitsakis, Geoff Paul
2018 Journal of Business & Retail Management Research  
This paper investigates the strategic decision-making process (SDMP) of Greek banks' top management in the context of profound organisational changes introduced in 2012 as a result of the 2008 global financial crisis. It focuses on the impact of three key dimensions of the SDMP, namely, rationality, intuition and political behaviour, relating to four changes introduced, namely, acquisitions, branch network rationalisation, integration of information technology (IT) and downsizing of operations
more » ... zing of operations and personnel. A questionnaire-based survey was conducted, targeting Greek banks' top management. Out of 140 questionnaires, 78 were returned, a 55.71% response rate. Data was analysed using structural equation modelling. Research findings identify rationality as a key dimension of SDMP for all organisational changes, as there was high focus on identifying and analysing all required information, use of external financial advisors, and reliance on multiple methods of information gathering. Decision-makers used their intuition in the form of past experience when making acquisition decisions, whilst their personal judgment and "inner voice" were neglected.
doi:10.24052/jbrmr/v12is04/art-03 fatcat:72umemgg2jctvcoo7eyr4g25gu