NATALIA VUORI and TIMO VUORI contributed equally to this paper.
RESEARCH NOTES AND COMMENTARIES
Comment on “Heuristics in the strategy context” by Bingham and Eisenhardt (2011)
Article first published online: 8 MAY 2014
Copyright © 2014 John Wiley & Sons, Ltd.
Strategic Management Journal
Volume 35, Issue 11, pages 1689–1697, November 2014
How to Cite
Vuori, N. and Vuori, T. (2014), Comment on “Heuristics in the strategy context” by Bingham and Eisenhardt (2011). Strat. Mgmt. J., 35: 1689–1697. doi: 10.1002/smj.2259
- Issue published online: 9 OCT 2014
- Article first published online: 8 MAY 2014
- Accepted manuscript online: 12 MAR 2014 06:42AM EST
- Manuscript Accepted: 8 OCT 2013
- Manuscript Revised: 7 AUG 2013
- Manuscript Received: 24 APR 2012
- Finnish Foundation for Economic Education
- Institute of Strategy, Aalto University
- Finnish Cultural Foundation
Bingham and Eisenhardt (2011) highlight the positive role of heuristics in the strategy context. They discuss four mechanisms through which heuristics have positive effects for strategy. The first mechanism—using a heuristic cue as a proxy for complex, correlated information—builds directly on Gigerenzer's research on positive heuristics. The second (capturing a window of opportunity) and third (providing some direction while allowing freedom to improvise) mechanisms, combine Gigerenzer's ideas with Eisenhardt's earlier work. The fourth one relates to coordination. In this commentary, we critically evaluate the applicability of these four mechanisms in the strategy context, which differs fundamentally from Gigerenzer's context. Our primary contribution is the explication of central limitations in the ways heuristics can function in the strategy context. Copyright © 2014 John Wiley & Sons, Ltd.