Chapter 6 - MAN 320F Foundations of Management Decision...

Info iconThis preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon
MAN 320F Foundations of Management Chapter 6 Decision Making
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 1. Explain how perception, risk, and uncertainty affect decision-making 2. Discuss the assumptions of rational decision making 3. Compare and contrast the rational decision-making model with bounded rationality and intuition 4. Understand common decision-making biases and describe how managers can deal with the negative effects of decision errors and biases 1. Describe four styles of decision making 2. Contrast programmed and nonprogrammed decisions 3. Explain the managerial decision-making model 4. List characteristics of effective decision-making process 5. Describe the five habits of highly reliable organizations L E A R N I N G    O UTLINE
Background image of page 2
3 Exhibit 6–5 Typical Management Decisions
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
4 Exhibit 6–1 The Rational Decision-Making Process
Background image of page 4
5 Think-Pair-Share Video: U-571 Describe a decision you made or witnessed in an organization that did not follow the rational decision making model. How was the decision actually made? How well did the decision work – did it fix the problem, etc?
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
6 Assumptions of Rational Model Problem clarity Known options Clear preferences Constant preferences No time or cost constraints on information gathering Maximum payoff will drive choice Actors have sufficient creativity to identify all possible issues/options
Background image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 07/10/2011 for the course KIN 321M taught by Professor Jensen during the Spring '11 term at University of Texas at Austin.

Page1 / 26

Chapter 6 - MAN 320F Foundations of Management Decision...

This preview shows document pages 1 - 7. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online