Chapter 12 notes - Chapter 12 Individual and Group Decision...

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Chapter 12: Individual and Group Decision Making Decision Making: Identifying and choosing solutions that lead to a desired end result. Non-Rational Models : Explain how decisions actually are made. Bounded Rationality : Constraints that restrict rational decision making. Satisficing: Choosing a solution that meets a minimum standard of acceptance. Garbage Can Model: Holds that decision making is sloppy and haphazard. Knowledge Management: Implementing systems and practices that increase the sharing of knowledge and information throughout an organization. Tacit Knowledge: Information gained through experience that is difficult to express and formalize. Explicit Knowledge : Information that can be easily put into words and shared with others. Decision-Making Style : A combination of how individuals perceive and respond to information, there are Four Types: 1) Directive: low tolerance for ambiguity and are oriented toward task and technical concerns, they are efficient, logical, practical, and systematic in their DMS. 2) Analytical: higher tolerance for ambiguity, tendency to overanalyze a situation. 3) Conceptual: High tolerance for ambiguity, tend to focus on people or social aspects of a work situation, make broad perspective to problem solving. 4) Behavioral: most people
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