The generative influence of emotions and feelings on organizational effectiveness : a new theory for the practicing of knowledge management

In accordance with recent research results provided by the neurobiologist Damasio and the psychologist Gigerenzer it is the aim of this paper to point out the limits of solely cognitive explanations and rational approaches to decision-making and problem-solving in the context of business and economy, and – by showing the significance of emotions and (gut) feelings in decision and problem-solving processes – to contribute theoretically to an essential improvement of the practice of Knowledge Management, which can lead to a decisive competitive advantage of an organization or an enterprise.