• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.465-473
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• 2020

The objective of this research is to study the confirmative components of strategic intuition capability and the study of causal influence between strategic intuition capability and firm performance of SMEs in Thailand. The consistency method, structural equation models and empirical data were used to test the influential factors on firm performance. Models were then proposed for the development of the strategic intuition capability of entrepreneurs in Thailand. The research sample consisted of 342 SME provincial champion entrepreneurs listed with Thailand's Office of Small and Medium Enterprises. The research results reveal that the model of strategic intuition capability responded well to the empirical data. Additionally, a relationship was identified between firm performance and the causal influence of the strategic intuition capability of entrepreneurs. In accordance with the empirical data, the strategic intuition capability of entrepreneurs had a significant causal influence on firm performance (Chi-square = 35.71, df = 25, P-value = 0.07615, GFI = 0.98, AGFI = 0.96, RMSEA = 0.033, RMR = 0.027). Furthermore, with respect to the development of strategic intuition capability, the development of genuine wisdom based on systematic knowledge management achieved via conscious mental concentration may lead to the next stage of strategic intuition.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.1
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• pp.15-23
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• 2014

A Case Study on Venture and Small-Business Executives' Use of Strategic Intuition in the Decision Making Process This paper is a case study on how Venture and Small-Business Executives managers can take advantage of their intuitions in situations where the business environment is increasingly uncertain, a novel situation occurs without any data to reflect on, when rational decision-making is not possible, and when the business environment changes. The case study is based on a literature review, in-depth interviews with 16 business managers, and an analysis of Klein, G's (1998) "Generic Mental Simulation Model." The "intuition" discussed in this analysis is classified into two types of intuition: the Expert Intuition which is based on one's own experiences, and Strategic Intuition which is based on the experience of others. Case study strategic management intuition and intuition, the experts were utilized differently. Features of professional intuition to work quickly without any effort by, while the strategic intuition, is time-consuming. Another feature that has already occurred, one expert intuition in decision-making about the widely used strategic intuition was used a lot in future decision-making. The case study results revealed that managers were using expert intuition and strategic intuition differentially. More specifically, Expert Intuition was activated effortlessly, while strategic intuition required more time. Also, expert intuition was used mainly for making judgments about events that have already happened, while strategic intuition was used more often for judgments regarding events in the future. The process of strategic intuition involved (1) Strategic concerns, (2) the discovery of medium, (3) Primary mental simulation, (4) The offsetting of key parameters, (5) secondary mental simulation, and (6) the decision making process. These steps were used to develop the "Strategic Intuition Decision-making Model" for Venture and Small-Business Executives. The case study results further showed that firstly, the success of decision-making was determined in the "secondary mental simulation' stage, and secondly, that more difficulty in management was encountered when expert intuition was used more than strategic intuition and lastly strategic intuition is possible to be educated.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.1
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• pp.259-268
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• 2020

The purpose of this study is to examine the predictive effects of intuition, business analytic, networking capabilities on innovation performance. The data was collected using a cross-sectional quantitative survey. A total of 292 useable responses were collected from Thai Processed Food Exporters (TPFE). The findings also indicated that the hypothesized relationships between the independent and dependent variables fit the empirical data. Specifically, it is revealed that strategic intuition, business analytic capabilities, network-based capabilities and dynamic capabilities had a direct effect on dynamic strategy. They also had statistically significant direct and indirect effects on dynamic performance. Based on the results of the correlation test, the researchers developed a dynamic capability model for the development of the dynamic performance of the operators, which included concepts, principles, methods, tools and guidelines. Furthermore, the impacts of intuition, business analytic, networking capabilities on dynamic strategy are also examined in this study. It makes a considerable contribution to the existing literature on dynamic strategy of TPFE, particularly in regards to explaining the performance.

• Journal of Korean Institute of Industrial Engineers
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• v.29 no.2
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• pp.126-134
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• 2003

Among a variety of models proposed by so far to calculate the real options value when the investment decision about the underlying project may be delayed, the Black-Scholes and the binomial lattice models have been widely used and discussed by academics and practitioners. However these two models do not provide us with intuition into how it is constructed and what it does really mean. In this paper, we will therefore explore its components and practically more intuitive meaning. With the components explored, we developed the mathematical model to calculate the real options value and thus strategic net present value, based on the opportunity cost concept, for which the investment decision about the underlying project is postponed by one year. We will finally present a short illustrative example for readers better understanding on the model proposed in the paper.

• Journal of the Korean Academic Society of Industrial Cluster
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• v.3 no.1
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• pp.26-38
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• 2009

Many economic development practitioners view cluster theory and analysis as constituting a general approach to strategy making in economic development, which may lead them to prioritize policy and planning interventions that cannot address the actual development challenges in their cities and regions. This paper discusses the distinction between strategy formation and strategic planning, where the latter is the programming of development strategies that are identified through a blend of experience, intuition, and analysis. Cluster theories and analytical tools can provide useful informational inputs into a strategy making effort and they can also be helpful for programming specific interventions (i.e., strategic planning). However, they should not be used as the exclusive or even predominant framework for filtering information about the competitive advantages of a region or for formulating strategy. To do so forces strategy making into a conceptual box defined by only one highly stylized theory of regional growth and development.

• Korean Journal of Community Nutrition
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• v.12 no.5
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• pp.630-638
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• 2007

The purpose of this study is to investigate an efficient use of labor in personnel scheduling for the restaurant industry. More specifically, this study attends to reduce overall labor cost while not sacrificing both full-time and part-time employees' schedules. The customers' demands were measured by sales in this analysis. Historically, server scheduling in the restaurant has been practiced by manager's experience and intuition; however, those practices provided drawbacks because managers often fail to consider external factors such as a employees' working conditions and change in a restaurant's size. The result of a new method in personnel scheduling provided significant cost saving compared to a previous scheduling technique. This study found that a new method in personnel scheduling allowed the restaurant to save labor cost. The outcome of this study should of for important strategic implication for the restaurant managers.

• Journal of Engineering Education Research
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• v.22 no.4
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• pp.71-77
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• 2019

Capstone design is a very important college course that enhances students' creativity and skills. However, in most universities, the operation of capstone design is operated by the experience and intuition of the advisor, and it is somewhat lacking in the generation of useful results such as patent rights and technology start-up from the capstone design result. In this study, we proposed a performance - based capstone design operation model through patent linkage so that the capstone design class can create creative and useful results. The proposed operating model includes support for research on prior art of patent information utilization, patent right of idea, and technology commercialization. The proposed operating model was directly applied to the capstone design class in the university, and it was confirmed that useful results such as expansion of the scope of the research achievement and technology start - up were created compared to the existing operation model.

• Journal of Agricultural Extension & Community Development
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• v.8 no.2
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• pp.209-221
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• 2001

The nature of work which is changing has increased the importance of HRD within organization. Also, these changes are making HRD shift its paradigm : from the segregated, closed, operational & administrative, dependent, utilitarian view to the integrative, open, strategic & facilitative, interdependent, generative view. The shifts of the perspective on HRD cause HRD professionals rethink the purpose and definition of HRD, and the role & competency needed to HRD in 21st century. The findings which are drawn through literature review and researcher’s intuition based on a long field experience are as follows. First, The function of HRD has recently been much more important then that of the past. Second, There is no consensus over the conceptual identity of HRD. Nonetheless, it is apparent that the preferred activities of the HRD function is performance improvement. Third, It is too difficult that we should define clearly the role & competency of HRD because of diverse perspectives on them. But we find much evidence converging to support the fact that the role & competency of HRD should be extended from the sole focus on training & development to adding the additional role & competency of change agent, who includes planning, implementing, and managing change.

• Journal of the Korean Operations Research and Management Science Society
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• v.22 no.3
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• pp.37-58
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• 1997

An AI approach with tabu search is designed to solve multi-level knapsack problems. The approach performs intelligent actions with memories of historic data and learning effect. These action are developed ont only by observing the attributes of the optimal solution, the solution space, and its corresponding path to the optimal, but also by applying human intelligence, experience, and intuition with respect to the search strategies. The approach intensifies, or diversifies the search process appropriately in time and space. In order to create a good neighborhood structure, this approach uses two powerful choice rules that emphasize the impact of candidate variables on the current solution with respect to their profit contribution. "Pseudo moves", similar to "aspirations", support these choice rules during the evaluation process. For the purpose of visiting as many relevant points as possible, strategic oscillation between feasible and infeasible solutions around the boundary is applied. To avoid redundant moves, short-term (tabu-lists), intemediate-term (cycle-detection), and long-term (recording frequency and significant solutions for diversfication) memories are used. Test results show that among the 45 generated problems (these problems pose significant or insurmountable challenges to exact methods) the approach produces the optimal solutions in 39 cases.lutions in 39 cases.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1996.04a
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• pp.514-517
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• 1996

In solving multi-level knapsack problems, conventional heuristic approaches often assume a short-sighted plan within a static decision enviornment to find a near optimal solution. These conventional approaches are inflexible, and lack the ability to adapt to different problem structures. This research approaches the problem from a totally different viewpoint, and a new method is designed and implemented. This method performs intelligent actions based on memories of historic data and learning. These actions are developed not only by observing the attributes of the optimal solution, the solution space, and its corresponding path to the optimal solution, but also by applying human intelligence, experience, and intuition with respect to the search strategies. The method intensifies, or diversifies the search process appropriately in time and space. In order to create a good neighborhood structure, this method uses two powerful choice rules that emphasize the impact of candidate variables on the current solution with respect to their profit contribution. A side effect of so-called "pseudo moves", similar to "aspirations", supports these choice rules during the evaluation process. For the purpose of visiting as many relevant points as possible, strategic oscillation between feasible and infeasible solutions around the boundary is applied for intensification. To avoid redundant moves, short-term (tabu-lists), intermediate-term (cycle detection), and long-term (recording frequency and significant solutions for diversification) memories are used. Test results show that among the 45 generated problems (these problems pose significant or insurmountable challenges to exact methods) the approach produces the optimal solutions in 39 cases.lutions in 39 cases.