Do Leaders of Small and Medium‐Sized Businesses Base Decisions on Intuition? An Empirical Investigation Among West African Managers

Abstract Intuitive judgments are common among managers. They rely on intuition to facilitate their managerial decision making, and use it to synthesize information rapidly, economically, and effectively. Intuition contrasts sharply with highly rational decision‐making systems that represent the bases of management education and management practices. Unlike concepts that appear similar, such as instinct, guessing, or insight, intuitive decision making is nonconscious, holistic, quick, and affect‐driven, and also involves emotions. Qualitative interviews and an empirical investigation conducted with more than 300 managers and entrepreneurs at small and medium‐sized organizations in West Africa reveal that intuition is a key resource for managerial decision making. In fact, this effortless, automatic processing of information may be more efficient than the use of deliberate rational processes when making decisions. © 2013 Wiley Periodicals, Inc.