Lecture 9 (Chapter 6 Individual Decision Making I)

Lecture 9 (Chapter 6 Individual Decision Making I) -...

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Chapter 6 Individual Decision Making  – Part 1 (Decision Making)
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CHAPTER 6 Individual Decision Making Learning objectives To be able to compare  and contrast  how  decisions should be made and how decisions  are actually made Rational choice paradigm Bounded rationality Influence of emotion and intuition Escalation of commitment
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CHAPTER 6 Individual Decision Making The Link between Perception and Decision Making Individuals make decisions in organizations Decision making occurs when individuals perceive a problem or opportunity – a discrepancy between some current state of affairs and some desired state. Decision making involves interpretation & evaluation of information and the judgment of alternatives, all perceptual processes.
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CHAPTER 6 Individual Decision Making Decision  making Conscious process of making choices among  one or more alternatives with the intention of  moving toward some desired state of affairs
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CHAPTER 6 Individual Decision Making Rational choice decision  process
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CHAPTER 6 Individual Decision Making Problem Identification Process Problems and opportunities are not well-labeled  or pre-defined  Need to interpret ambiguous information Problem identification uses both logical analysis  and unconscious emotional reaction during  perceptual process Selective attention Attitude formation
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CHAPTER 6 Individual Decision Making Problem Identification  Challenges 1.
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Lecture 9 (Chapter 6 Individual Decision Making I) -...

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