3S03 Week 4 Problem-Solving & Ethics (2011) Final

3S03 Week 4 Problem-Solving & Ethics (2011) Final -...

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__________________________________ Mark Skowronski DeGroote School of Business 2
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Warm-up Exercise 3 Creative Handshakes.
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Problem Solving Myths Taking action is better than standing by Trust your gut I know when I’m making a poor decision Dividing an elephant in half makes two small elephants Ethics is not my problem Ethical abuses are due to unethical people 4
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Problem Solving – More Than It Seems 5 Move the matchsticks into a valid equation.
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Why Smart People Make Bad Decisions Intuition represents a collection of what we’ve learned about the world, without knowing that we actually learned it Common for intuition to be influenced by unconscious biases Inference conclusion drawn about what we don’t know based on things we do know 6
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Write down the trait from each pair that you believe best describes Barack Obama . Energetic RelaxedDepends on the Situation Realistic Idealistic Depends on the Situation Emotional Unemotional Depends on the Situation Dominant Submissive Depends on the Situation Critical Supportive Depends on the Situation Quiet Talkative Depends on the Situation Intense Laid Back Depends on the Situation 8
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Write down the trait from each pair that you believe best describes YOU . Energetic RelaxedDepends on the Situation Realistic Idealistic Depends on the Situation Emotional Unemotional Depends on the Situation Dominant Submissive Depends on the Situation Critical Supportive Depends on the Situation Quiet Talkative Depends on the Situation Intense Laid Back Depends on the Situation 9
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Skill Building Activity Compare the number of “Depends on the Situation” between your ratings of yourself and Obama Which had more? 10
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Why Smart People Make Bad Decisions Fundamental attribution error people tend to over attribute other’s behavior to internal rather than external causes Self-serving bias people attribute personal success to internal causes and personal failures to external causes 11
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Ways People Exercise Poor Judgment Without Knowing It Availability bias things that are more readily available to us are likely to be interpreted as more frequent or important Representativeness bias Drawing conclusions using non-representative data, insufficient sample size Ignore base rate, probabilities in favor of information that seems more representative Hasty generalization fallacy (law of small numbers) 12
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3S03 Week 4 Problem-Solving & Ethics (2011) Final -...

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