HYPERION ECONOMIC JOURNAL

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• Corina-Maria ENE, PhD, Affiliation: Hyperion University of Bucharest, Romania;
• Marius-Florin GHIBERDIC, PhD Student, Affiliation: The Bucharest University of Economic Studies, Hyperion University of Bucharest, Romania;
  
  

Despite the fact that many hypotheses have been formulated regarding decision-making in crisis situations, we do not really know how leaders approach such a challenge in current practical work. In this context and considering the imminent emergence of crisis situations, we proposed to analyze two established approaches in the specialized literature regarding the adoption of decisions under conditions of uncertainty: the principled perspective, respectively the pragmatic one. The principled approach focuses mainly on "minimizing damage" and "reducing as much as possible socio-economic restrictions", desiderata applied to each decision that is imposed at any given moment. In contrast, the pragmatic approach rejects the idea of principles that shape decision-making in the context of uncertainty and proposes an experimental, trial-and-error strategy based on the combination of reasoning and feedback. In other words, try something that seems to work, study the consequences and adjust where necessary . Without claiming completeness, the purpose of this paper is to study whether the theoretical distinction presented has practical applicability for organizational leaders, when they design response trajectories under conditions of uncertainty.

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