The entropic knowledge dynamics departs from the iceberg metaphor used for the explicit and tacit knowledge by introducing the energy metaphor, which leads to the multifield theory of organizational knowledge. According to this theory, there are three fundamental fields of knowledge: rational, emotional, and spiritual. Each of these fields transforms continuously into another field, creating a synergy effect which impacts the decision making process. In this front, the purpose of this paper is to describe the new entropic dynamics approach and to investigate its impact on the decision‑making process by using quantitative research methods. Experts in a workshop debated on the role played by each field of knowledge and the entropic dynamics on decision making. Then, a questionnaire has been developed containing 30 questions structured on two levels of complexity. The first level contains questions addressing the role played by each of the three forms of knowledge on decision making while the second level contains questions addressing the way knowledge dynamics impacts decision making. Since we are interested in the generic phenomena of decision making and the role played by knowledge dynamics, we invited students in management and business administration from two important universities in Romania to participate in the questionnaire‑based survey during January and February 2017. Finally, 399 valid questionnaires were retrieved. This research demonstrates that students attach the highest importance to the Entropic Knowledge Dynamics, thus, identifying knowledge transformations and interactions as the most prominent factor. The entropic knowledge dynamics shows up as a driving force of the decision‑making process. As the findings also indicated, there are no statistically significant differences among the cohorts of students in terms of gender and education level; nevertheless, setting the faculty year as criterion brings forward novel insights in that three out of the four considered knowledge dimensions displayed meaningful differences.