MGT+3304+Day+12_Decision+Making+F2010

MGT+3304+Day+12_Decision+Making+F2010 - Foundations of...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Foundations of Foundations of Decision Making 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
Some Management “Truths” Some Management “Truths” As a manager (at least as organizers and leaders) you no longer get paid for what you do. Anytime something occurs that does not meet expectations by definition it is a “management” problem.
Background image of page 2
Innumeracy: Mathematical Innumeracy: Mathematical Illiteracy and its Consequences Illiteracy and its Consequences A man who travels a lot was concerned about the possibility of a bomb on board his plane. He determined the probability of this and found that it was still greater than what he liked. So now he always carries a bomb with him when he travels on planes. He figures the possibility of two people carrying bombs is extremely small.
Background image of page 3

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

View Full DocumentRight Arrow Icon
L E A R N I N G O U T C O M E S L E A R N I N G O U T C O M E S By the end of this class, you should be able to: Distinguish between problem solving and decision- making Describe the steps in the problem solving and decision-making process. Identify the assumptions of the rational decision- making model. Define uncertainty, ambiguity and risk as they relate to decision making. Define biases and heuristics and explain how they affect the decision-making process.
Background image of page 4
Problem Solving and Decision-Making Problem A discrepancy between an existing and a desired state Solution A tactic perceived to be capable of closing the gap between the existing and the desired state if implemented. Problem Solving The process of identifying a gap that needs to be closed and the characteristics of appropriate solutions. Decision Making
Background image of page 5

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

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 21

MGT+3304+Day+12_Decision+Making+F2010 - Foundations of...

This preview shows document pages 1 - 6. Sign up to view the full document.

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