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Chapter 12 - cultures explicitly to improve the creating...

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Chapter 12—Decision Making Rational model- proposes managers use a rational, four step sequence when making decisions. (identifying the problem, generating alternative solutions, selecting a solution, and implementing and evaluating the solution. Simon’s Normative Model- involves bounded rationality- represents the notion that decision makers are bounded or restricted by a variety of constraints. Judgemental Heuristics- the rules of thumb or shortcuts that people use to reduce information-processing demands Availability Heuristics- a decision maker’s tendency to base decisions on info that is readily available by memory Representative Heuristic- when people estimate the probability of an event occurring. Satisficing- choosing a solution that meets some min qualifications. Knowledge management- the development of tools , processes, systems, structures, and
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Unformatted text preview: cultures explicitly to improve the creating, sharing, and use of knowledge critical for decision making. Tacit knowledge- entails info that is difficult to express, formalize, or share Explicit knowledge- easily put into words. Styles- directive, analytical, conceptual, behavioral Escalation of commitment- tendency to stick to an ineffective source of action when it is unlikely that the bad situation can be reversed (psychological/ social, organization, project characteristics, contextual determinants) Intuition- holistic (a judgment that is based on a subconscious integration of info stored in memory), automated (a choice that is based on a familiar situation and a partially subconscious application of previously learned info related to that situation.). Group solving technique- Brainstorming, Nominal Group Technique, The Delphi Technique....
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