Decision-Making Styles and Attitudes toward Risk
Do Arabian executives have different decision-making styles than managers from other cultures? Are these executives risk averters or risktakers? Does an understanding of Arabian executives’ approaches to tackling business problems facilitate business interactions and dealings in Arabia? These and other issues are addressed in this chapter. It is our intention to highlight the nature and type of decision styles in a society which is witnessing profound changes in its economy and social structure. This is because a decision style ap proach is a useful way of understanding managers, their decision mak ing, their problem solving, and their ability to interact with others in the organization (Rowe and Boulgarides, 1983). Furthermore, Singh (1986) suggests that there is a direct relation ship between decision making and attitude toward risk and perfor mance of the fi rm. Another related item to decision style, individualism, is viewed as the foundation of hard work and high achievement in Western societies. Pursuing self-interest and belief in individual decision making are often charac terized as individualistic attitudes and are differentiated from attitudes common in traditional societies (Hofstede, 1983).