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25 Cards in this Set
- Front
- Back
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Anchoring bias
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A tendency to fixate on initial information, from which one then fails to adequately adjust for subsequent information.
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Availability bias
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The tendency for people to base their judgments on information that is readily available to them rather than complete data.
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Bounded rationality
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Limitations on one’s ability to interpret, process, and act on information.
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Brainstorming
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An idea-generation process that specifically encourages any and all alternatives, while withholding any criticism of those alternatives.
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Confirmation bias
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The tendency to seek out information that reaffirms past choices and to discount information that contradicts past judgments.
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Corporate social responsibility
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An organization’s responsibility to consider the impact of its decisions on society.
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Creativity
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The ability to produce novel and useful ideas.
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Decision
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The choice made from two or more alternatives.
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Electronic meeting
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A meeting where members interact on computers, allowing for anonymity of comments and aggregating of votes.
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Escalation of commitment
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An increased commitment to a previous decision despite negative information.
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Ethics
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- The study of moral values or principles that guide our behaviour, and inform us whether actions are right or wrong
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Groupshift
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A phenomenon in which the initial positions of individual group members become exaggerated because of the interactions of the group.
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Groupthink
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A phenomenon in which group pressures for conformity prevent the group from critically appraising unusual, minority, or unpopular views.
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Interacting groups
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Typical groups, where members interact with each other face to face.
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Intuitive decision making
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A subconscious process created out of a person’s many experiences.
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Knowledge management (KM)
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The process of organizing and distributing an organization’s collective wisdom so the right information gets to the right people at the right time.
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Nominal group technique
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A group decision-making method in which individual members meet face to face to pool their judgments in a systematic but independent fashion.
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Overconfidence bias
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Error in judgment that arises from being far too optimistic about one’s own performance.
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Rational
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Refers to choices that are consistent and value-maximizing within specified constraints.
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Rational decision-making model
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- A six-step decision-making model that describes how individuals should behave in order to maximize some outcome.
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Satisfice
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provide a solution that is both satisfactory and sufficient.
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Stages of moral development
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The developmental stages that explain a person’s capacity to judge what is morally right.
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Three-component model of creativity
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- The proposition that individual creativity requires expertise, creative-thinking skills, and intrinsic task motivation.
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Utilitarianism
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A decision focused on outcomes or consequences that emphasizes the greatest good for the greatest number.
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Whistle-blowers
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Individuals who report unethical practices by their employer to outsiders.
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