Steering committee management. Expertise, diversity, and decision-making structures

Date

2023-06-12

Advisors

Journal Title

Journal ISSN

ISSN

Volume Title

Publisher

Elsevier

Type

Article

Peer reviewed

Yes

Abstract

This paper proposes to analyze how the differences in expertise, diversity, and group decision procedures affect the quality of the strategic decision of steering committees. Strategic decisions are difficult to anticipate, and performances of the alternatives are often not observable in their entirety, which prevents researchers from obtaining controlled empirical studies. This paper proposes to analyze the performance of steering committees where managers can err in their decisions using the Intentional Bounded Rationality (IBR). The majority procedure improves the committee's performance concerning authority when the level of diversity and expertise increases. However, in situations of low expertise, the gains over authority narrow. This work provides guidance in terms of trade-offs between the mentality of managers, their expertise, group decision procedures, and diversity, which in the empirical works are contradictory. This study contributes to current theorizations of committee management using the IBR methodology, which is new and allows quantifying the contribution of the distinct characteristics of the committee.

Description

open access article

Keywords

Diversity, Expertise, Intentional bounded rationality, Steering committees, Decisions

Citation

Sáenz Royo, C., Chiclana, F. and Herrera-Viedma, E. (2023) Steering committee management. Expertise, diversity, and decision-making structures. Information Fusion, 99, 101888

Rights

Research Institute

Institute of Artificial Intelligence (IAI)