Chapter_05

Chapter_05 - Chapter 5 Problem Solving and Decision Making...

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1 Chapter 5 Problem Solving and Decision Making
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2 Steps in Problem Solving and Decision Making Identify and Diagnose Problem Choose One Alternative Solution Develop Alternative Solutions Implement the Decision Evaluate Alternative Solutions Evaluate and Control
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3 Bounded Rationality People usually do not make entirely rational decisions (they are bounded). People do the best with what they have in making decisions. Decision makers often look for satisficing decisions (just suffice). People often use heuristics, or simplified strategies (rules of thumb).
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4 Influences on Decision Making Intuition (experience helps) Personality (such as perfectionism) and cognitive intelligence Emotional intelligence (includes self- awareness and self-management) Quality and accessibility of information Political considerations
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5 Influences on Decision Making, continued Degree of certainty (certainty, risk, uncertainty) Values of the decision maker (such as desire for status quo, interest in human welfare) Procrastination (can lead to indecisiveness and inaction)
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This note was uploaded on 03/14/2012 for the course 4 4 taught by Professor 4 during the Spring '12 term at Oxford Brookes.

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Chapter_05 - Chapter 5 Problem Solving and Decision Making...

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