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26 Cards in this Set

  • Front
  • Back
Rational Decision Making steps
1 ID the problem
2 Establish decision Criteria
3 Weigh decision criteria
4 Generate alternatives
5 Evaluate the alternatives
6 Choos best alternative
7 implument the decision
8 Evaluate the decision
Making “Good Enough” Decisions
The main difference is that rather than choosing the best option and maximizing the potential outcome, the decision maker saves cognitive time and effort by accepting the first alternative that meets the minimum threshold.
intuitive decision-making model
Managers makedecisions under challenging circumstances, including timepressures, constraints, a great deal of uncertainty,changing conditions, and highly visible and high-stakes outcomes. Works well when the perosn as a high knowledge about the situation type
Making creative Decusions (Steps)
Problem Recognition
Verification and application
Overconfidence bias
occurs when individuals overestimate
their ability to predict future events
Hindsight bias
occurs when looking backward in time and mistakes seem obvious after they have already occurred
refers to the tendency for individuals to rely too
heavily on a single piece of information.
Framing bias
refers to the tendency of decision makers to
be influenced by the way that a situation or problem is

when making a purchase, customers find it easier to let go of a discount as opposed to accepting a surcharge, even though they both might cost the person the same amount of money
Escalation of commitment
individuals continue on a failing course of action after information reveals it may be a poor path to follow. Making choices based on a sunken cost
Individual decision Making Pros
faster decision making

Best indidivual outperforms group

Accountability is easier
Individual decision Making Cons
fewer ideas

ID the best can be difficult

Group Decision Making Pro
Diverisity in ideas

Greater commitment to ideas

Interaction fun and team building
Group Decision Making Cons
Takes longer

Gorup think

socail loafing
Symtoms of group think
Illusion of invulnerability
Collective rationalizations
An unquestioned belief in the group’s inherent morality
Stereotyped views of outgroups
Direct pressure
Illusions of unanimity
The emergence of self-appointed mind guards
Illusion of invulnerability
is shared by most or all of the
group members, which creates excessive optimism and
encourages them to take extreme risks.
Collective rationalizations
occur, in which members
downplay negative information or warnings that might cause
them to reconsider their assumptions.
An unquestioned belief in the group’s inherent
occurs, which may incline members to ignore
ethical or moral consequences of their actions.
Stereotyped views of outgroups
are seen when groups
discount rivals’ abilities to make effective responses.
Direct pressure
is exerted on any members who express
strong arguments against any of the group’s stereotypes,
illusions, or commitments.
occurs when members of the group
minimize their own doubts and counterarguments.
Illusions of unanimity
occur, based on self-censorship and
direct pressure on the group. The lack of dissent is viewed as
The emergence of self-appointed mindguards
when one or more members protect the group from
information that runs counter to the group’s assumptions and
course of action.
Avoiding Group Think (Groups)
Assign someone to play devil’s advocate
Invite outside experts
Value differences
Avoiding Group Think (Individuals)
Check for self-censoring
Avoid putting pressure on others
Avoid mindguard behaviors
Avoiding Group Think (Leaders)
Remain impartial
Seek anonymous feedback
Have multiple groups work on the same issue
the decision
maker saves cognitive time and effort by accepting the first
alternative that meets the minimum threshold