Chapt.11 Essay

Submitted By JennecaSparks1
Words: 648
Pages: 3
Open Document
7/17/2012

Decision Making

Organizational
Behavior

Talya Bauer and Berrin Erdogan

Programmed vs. Unprogrammed Decisions
Programmed decisions are straightforward decisions that occur frequently enough that an automated response is developed The automated response is called the decision rule

Decision making refers to making choices among choices among alternative courses of action.
- May also include inaction

Rational Decision Making Model
1. Identify the problem Unprogrammed decisions are unique and require conscious thinking, information gathering and careful consideration of alternatives 2. Establish decisions criteria

8. Evaluate the decision 3. Weigh decision criteria

7. Implement the decision

6. Choose the best alternative

4. Generate alternatives 5. Evaluate the alternatives 1

7/17/2012

Flaws of the Rational Decision Making Model
Assumes that people understand what the decision to be made is

Bounded Rationality Model
Individuals knowingly limit their options and choose the best alternative without conducting an exhaustive search for alternatives

A “good enough” decision is made Assumes that people know all their available choices
Assumes the people have no perceptual biases
Assumes that people want to make optimal decisions

Making Intuitive Decisions
Within a given situation, experts making decisions scan the environment for cues to recognize environment for cues to recognize patterns. Once a pattern is recognized, they can plan a potential course of action based on their prior experience.

Satisficing may occur which refers to accepting the first alternative that meets minimum criteria

The Creative Decision Making Process

Step 1

Problem
Recognition

Step 5
Step 2

Step 3

Step 4

Immersion

Incubation

Illumination

Verification
&
Application

2

7/17/2012

Choosing A Decision Making Model
Decision Making
Model
Rational

Bounded
Rationality

Intuitive

Creative

Use This Model When:
• Information on alternatives can be gathered and quantified. • The decision is important.
• You are trying to maximize your outcome.
• The minimum criteria are clear. minimum criteria are clear.
• You do not have or you are not willing to invest much time to making the decision.
• You are not trying to maximize your outcome.
• Goals are unclear.
• There is time pressure and analysis paralysis would be costly. • You have experience with the problem.
• Solutions to the problem are not clear.
• New solutions need to be generated.
• You have time to immerse yourself in the issues.

Opposite Biases
Overconfidence Bias

Hindsight Bias

Overestimating the ability to predict future events

Looking backward in time where mistakes made seem obvious after they have already occurred already occurred

82% of drivers surveyed feel they are in the top 30% of safe drivers

May cause an individual to
incorrectly
Show More

Related Documents: Chapt.11 Essay

Essay Corporate Finance and Review Practice Problems

STILLMAN COLLEGE BUS 433-M Business Finance Spring 2014 Instructor: Emmanuel Chijioke, Ph.D, JD Meeting Days: MWF Room: Snedecor Auditorium Academic Rank: Prof. of Bus., Finance, and Law. Class time: 1 P.M. MWF Office Phone# 205 366-8936 Office Hours: 10:30 – 12 Noon on MW, 9 – 12 Noon TTH and by appointment e-mail: echijioke@stillman.edu Prerequisites: ACC 231, ACC232, BUS 233 or BUS 234 with grade of C or better. Required Textbook: Foundations of Financial Management…

Words 833 - Pages 4

Cranial Nerves and Spinal Accessory Nerve Essay

100 pts in a multiple choice, matching, T/F & diagrammatic format. So you need a pencil, eraser & scantron. No assistive devices of any sort. Test starts at the beginning of our regular class time and you will have 100 minutes to complete it. Chapt 9 3 types of muscle & locations 1) Skeletal Muscle 2) Cardiac Muscle 3) Smooth Muscle 4 functions of muscles 1) Movement of bones or fluids 2) Maintaining posture and body position 3) Stabilizing Joints 4) Heat Generation Epimysium is the…

Words 2484 - Pages 10

The History Of Women In Africa Office And Office Hours

History 142 Dr. Jessie Gaston The History of Women in Africa Office and Office Hours: Spring 2013 Tahoe 3096: TT 12:00 to 1:15 pm Phone: 278-6626/6206 and Tues. 4:30 to 5:00 pm…

Words 1750 - Pages 7

Essay on Days of the Year and John Jay

of the Scientific Method. Professor: Dr. David Munns Professor’s office: New Building, 8th floor: 8.65.10 Semester: Fall 2013 Course Code: HIS: 131 Course Section: 01 Classroom: TBA Class time: 2nd 9:25am-10:40am Office Hours: Mon and Wed 11-12noon Professor’s phone and e-mail: (646) 557-4496: dmunns@jjay.cuny.edu Course Description: From the Enlightenment until the present day, “the scientific method” (as the process is commonly referred to) has emerged permitting people to understand…

Words 2240 - Pages 9

Project Team and Tool Kit Essay

General Information Class meetings Section 1: Monday and Wednesday 8:30a.m. OB 110 Instructor Dr. M.A. Reavley Office hours M/W 2:30 p.m. to 4:00 p.m. Or by appointment E-mail reavley@uwindsor.ca Telephone Ext. 3135 Office OSB 447 Secretary Mrs May Nhan Office OSB 405 E-mail nhan@uwindsor.ca Course Description This course provides an overview of human behaviour in organizations, coupled with a more applied view of how management and organizational behaviour…

Words 1897 - Pages 8

Comm225 T01 Intro SH4e Essays

Chapt 1 er Introduction to Operations Management updated by Dr. M. Talla Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Learning Objectives LO 1 Define the term operations management and identify operations management jobs. LO 2 Identify the three major functional areas of organizations and describe how they interrelate. LO 3 Describe the scope of operations management, and differentiate between design and operations decisions. LO 4 Compare goods versus services. LO 5…

Words 1387 - Pages 6

Jame: Motivation and Organizational Goals Essay

CHAPTER 14 Leadership: is the ability to influence a group towards the achievement of goals. MANAGEMENT is the use of authority inherent in designated formal rank to obtain compliance from organizational members. HISTORY OF LEADERSHIP: Traditional - Trait – Behavioral – Contingency (Followers, Positive, Dark Side)[Parenthesis is Contemporary]. TRAIT THEORIES are theories that consider personality, social, physical, or intellectual traits to differentiate leaders from non-leaders. BEHAVIORAL THEORIES…

Words 4773 - Pages 20