Armstrong, Cools, and Sadler-Smith (2012) conducted a systematic review of 938 journal publications over a period of 40 years and identified 4,569 peer-reviewed articles over a 40-year period on cognitive styles (how we think, perceive, make decisions, etc.) evidenced in business and industry.
The research in cognitive styles grew six-fold from the period of 1969–1979 (the first decade of data collection) to the period from 1999–2009 (the fourth decade of data collection). If you have a moment, do a quick skim of the article. If you have more time, do a deep dive. The results are fascinating relative to the themes in the literature for cognitive styles and risk assessment.
There are key themes and concepts in the systematic review and in the broader reading list that will be useful in guiding your Discussion this week and your work in the weeks ahead. To prepare for this Discussion, based on the decision to be made to address your problem or opportunity, cite and describe several risk assessment methodologies you can draw upon to assess the risks and benefits associated with the management decision outcomes.
In your description, address the following points: • Describe methodologies to assess risks and benefits associated with management decision outcomes • Describe how stakeholder attitudes and bias towards risk will evaluated.