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22 Cards in this Set
- Front
- Back
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what are the 4 concepts behind Simon's rational decision making model? |
Intelligence gather information fromexternal and internal sources Design generate alternative decisions Choice select one of the alternatives Implementation alternative is put into action |
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what are the six steps in order in the rational decision making model |
1) define the problem 2) Identify the criteria 3) allocate weights to the criteria 4) Develop alternatives 5) evaluate the alternatives 6) select the best alternative |
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what is MADM and what are the 4 compontents |
MADM= Multiple Attribute Decision Making 4 components: Options, Criteria, Weight, Score |
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what are the rational model assumptions? |
The problem and options are clear Preferences are constant over time No time or cost constraints Only the ‘best’ alternative should be chosen(optimal solution) |
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what are three things we actually base our decisions off of? |
Bounded rationality, satisficing, intuition |
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what are the definitions of: bounded rationality rationality satisficing intution |
Bounded Rationality is an analysis of decision-makingwhich accepts that there are cognitive limits to anindividual's knowledge and capacity to act rationally(Herbert Simon) Rationality – a rational decision making process for makinglogically sound and “optimal” decisions Satisficing – a process which searches for “good enough” or“satisfactory” option, rather than an optimum solution Intuition – a subconscious process created out of a person’smany experiences, results in quick decisions |
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what are the 8 judgement shortcuts? (Heuristics) 5 Bias commitment, error and a curse |
Overconfidence Bias Believing too much in our own ability to make good decisions –especially when outside of own expertise Anchoring Bias Using early, first received information as the basis for makingsubsequent judgments Confirmation Bias Selecting and using only facts that support our decision Availability Bias Emphasizing information that is most readily at hand Escalation of Commitment Increasing commitment to a decision in spite of evidence thatit is wrong – especially if responsible for the decision! Randomness Error Creating meaning out of random events - superstitions Winner’s Curse Highest bidder pays too much due to value overestimation Likelihood increases with the number of people in auction Hindsight Bias After an outcome is already known, believing it could havebeen accurately predicted beforehand |
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what are some strengths and weaknesses for group decision making? |
Strengths: More complete informationand knowledge Increased diversity of views Generates higher-qualitydecisions Leads to increasedacceptance of a solution Weaknesses: More time consuming Conformity pressures Discussion can bedominated by 1-2members Decisions suffer fromambiguousresponsibility |
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Which type of decision making is best for each category? Accuracy Speed Creativity Acceptance |
group individual group group individual |
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what is group think and what are some symptoms |
Groupthink: A phenomenon in which group pressuresfor conformity prevent the group from criticallyappraising unusual, minority, or unpopular views Symptoms of Groupthink: Rationalized resistance Peer pressure Minimized doubts Illusion of unanimity |
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what is group shift and what causes it? |
Groupshift: A phenomenon in which the initial positionsof individual members of a group become exaggeratedbecause of the interactions of the group What causes Groupshift? Discussion leads members toward more extreme viewsand positions because they want to demonstrate howdifferent they are Group diffuses responsibility and frees any singlemember from accountability for the group’s final choice,so greater risks can be taken |
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what are some group decision making techniques? |
Interacting Groups: members meet face-to-face and relyon both verbal and nonverbal interaction to communicate Brainstorming: idea-generation process that specificallyencourages any and all alternatives, while withholding anycriticism of those alternatives Nominal Group Technique: members meet face-to-face topool their judgments in a systematic but independentfashion Electronic Meeting: members interact on computers,allowing for anonymity of comments and voting |
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what is creativity and its 3 components? |
Creativity is the process of creating products, ideas, orprocedures that are novel or original, and are potentiallyrelevant or useful to an organization 1. Expertise (relevant knowledge & experience) is the foundationfor all creative work 2. Creativity skills encompass personality characteristics associatedwith creativity, the ability to use analogies, and the talent to seethe familiar in a different light 3. Intrinsic task motivation & persistence is the desire to work onsomething because it’s interesting, involving, exciting, satisfying,or personally challenging |
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what is ethics? and what are the three things it 'has' |
Ethics are the principles and standards that guide ourbehavior toward other people Ethical people have integrity They behave in a principled fashion and treat others withrespect and dignity Ethics are rooted in history, culture, and religion Ethical principles United Nations Declaration of Human Rights Canada’s Charter of Rights and Freedoms |
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what are he 2 factors to face in an ethical decision |
1. Your basic ethical structure which you developed inchildhood 2. The circumstances of the situation |
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what are the influences of ethical decisions? |
1. Consequences (harm or benefit from the decision)2. Society’s opinion (what others think)3. Likelihood of effect (probability of harm or benefit)4. Time to consequences (how fast it will happen)5. Relatedness (how much you identify with the personor persons who will be affected)6. Reach of result (how many people will be affected) |
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what are the four ways to decide on ethical matters |
Utilitarian rights justice care |
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what is utilitarian and rights? (with respect to the factors within ethical decisions) |
Utilitarian: The right thing is the optionthat results in the mostamount of “good” for thelargest number of people Consider only outcomes orconsequences when makinga decision Rights: The right thing is theoption that grantseveryone theirfundamental liberties& privileges Consider only rights |
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what is justice, and care? (with respect to the factors within ethical decisions) |
Justice The right thing is theoption that enforcesrules fairly andimpartially so benefitsand costs aredistributed equitably Care The right thing is theoption that considers theneeds, desires, and wellbeingof those to whomyou are closely connected |
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where in the world are ethics more clear? more vague? |
western countries ethics are more clear Asian more vague |
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what is the triple bottom line? |
Triple Bottom Line: people, planet, profit expands the notion of traditional financial reports, whichare based solely on financial performance, to take intoaccount ecological and social performance |
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GO OVER THE SUSTAINABILITY VENN DIAGRAM |
GO OVER THE SUSTAINABILITY VENN DIAGRAM |
