Decision Making

Decision Making - Decision Making 1. Choice Making a....

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Decision Making 1. Choice Making a. Definition i. The narrow set of activities associated with choosing one option from among already identified alternatives 2. Decision Making a. Definition i. The process of specifying a problem or opportunity, identifying alternatives and criteria, evaluation alternatives, and selecting from among the alternatives 3. Problem Solving a. Begins where decision-making ends b. Implementation of decision c. Monitoring of impact d. Revising action e. Achieving objectives 4. Decision Standards a. Optimize i. Find the best possible decision b. Maximize i. Find decision that meets maximum number of critera c. Satisfice i. Fid the first satisfactory solution 5. Decision Models a. Irrational person i. Has a variety of fears, anxieties and drives ii. Decisions are driven by the unconscious motives underlying these fears and anxieties b. Creative/self actualizing person i. Pursues total development of the inner self ii. Decisions are driven by desire to develop the self even at the expense of external factors c. Rational economic person i. Person is rational and deals with objective facts ii. Person is economically motivated iii. Decisions are driven by objective rationality and a search for the best possible alternative d. Administrative person i. Simon called this “bounded rationality” ii. Person is aware of only certain alternatives iii. Person considers only certain criteria iv. Person is limited by restricted cognitive capacity v. Decisions are driven by desire to identify and select the first acceptable alternative (satisficing) 6. Administrative Type a. Filey’s Leadership Type i. Administrative Leadership” 1. Management (Initiating structure) skills 2. Technical skills
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3. Decision-making skills (when to consult, when not to consult) 4. Futurity (Vision) 5. Knowledge of environment 7. Why Groups Should Make Decisions a. Greater knowledge and facts b. Broader perspectives on issues c. More alternatives considered d. Greater satisfaction with and support of decisions e. Better problem comprehension f. Serves communication and political functions 8. Why Groups Should NOT make decisions a. Less speed b. Compromise may damage decision quality c. Negative social pressure d. Premature decisions e. Individual domination f. Interference of personal goals 9. Swing Factors to Manage with Group Decision Making a. Disagreements can generate ideas or cause hard feelings b. Diverse interests can broaden perspectives or cause conflict c. Increased risk taking can be beneficial or costly d. Increased time spent can improve decisions or waste time 10. Dysfunctions of a Team a. Absence of Trust b. Fear of Conflict c. Lack of Commitment d. Avoidance of Accountability e. Inattention to Results 11. Group Conflict and Decision Making a. Cognitive conflict i. Originates in differences in information held, in judgment, and in perspective ii. Contributes to decision making because it facilitates the exchange of information, the analysis of information and ideas, and the development of personal and group judgment
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This note was uploaded on 03/31/2008 for the course MHR 420 taught by Professor Greenwood during the Spring '08 term at Wisconsin.

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Decision Making - Decision Making 1. Choice Making a....

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