ISSN 2756-3677
International Journal of Banking, Economics and Finance ISSN: 8201-4728 Vol. 2 (10), pp. 001-006, October, 2018. © International Scholars Journals
Full Length Research Paper
Role of extra sensory perception (ESP) in managerial decision making
Rakshit Negi
School of Commerce, Post Box 150036, Addis Ababa University, Addis Ababa, Ethiopia. E-mail: [email protected]. Tel: +251-911317408.
Accepted 25 March, 2018
Abstract
The success of any business organization, by large, depends upon its managers, who make effective decisions to meet company’s objectives, on time, and at minimum cost. However, by placing primary emphasis on rational techniques (relating consequences systematically to objectives), managers implicitly work with two other procedures for making choices; the processes of intuition, by means of which they (managers) may do things without fully understanding, and the processes of tradition and faith, through which they do things because that is the way they are done. This paper attempts to examine the effectiveness of decision-making of executives under non-programmed and ill defined situations in Ethiopian context, by associating the Extra Sensory Perception (ESP) with various decision-making factors, such as creativity, correctness, and clarity. Tests for measuring ESP (Envelop Test) and Potential for Creativity (Creativity Test) scores with executives were carried out. The executives with higher Decision Making (total) were reported with high ESP scores. Moreover, ‘Creativity’ of over one-fourth (28%) of the respondents was found to be in the lowest category, and somewhat associated with ESP. However, efforts could be made to replicate the study by using different approaches to measure the effectiveness of decision making of executives.
Key words: Managerial decision-making, intuition, Extra Sensory Perception (ESP), Ethiopia.