Course Hero Logo

It goes without saying how this method of decision

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 9 - 11 out of 14 pages.

It goes without saying how this method of decision-making leads to one making systematic and predictableerrors. When it comes to ethical decision making, this subjective flawed perception affects our mentality inhow we perceive our freedom to behave in a particular way, which is in turn affected by our obligationstowards the people our actions affect.ExampleMrs. Antle is a CEO at a leading multinational firm with operations in Asia, Europe, North America, andSouth America. Profits and revenues are falling and shareholders are becoming restless for results. Mrs.Antle has to make a decision. However, it’s a bit like looking for a needle in a haystack. There is so muchinformation that needs to be compiled to even start to come to a satisfactory decision. In such a situation, itis virtually impossible for any CEO to make an optimal decision. They have to first compile usefulinformation, but they may be unaware of other information that may, in fact, be useful. Perhaps somethingan average worker knows that would greatly improve operations. The fact of the matter is that the chances ofthe CEO being able to collect all the necessary information is highly unlikely. We then have to consider ifthey were able to gain all the information, would they be able to effectively analyze what would most likelybe thousands upon thousands of pages of data. In the end, a satisfactory decision is made that meets alimited set of criteria but is not necessarily the most optimalPARVATHY NAIRCB.BU.P2MBA21087
CHAPTER 610 |P a g ePROBLEMSAn incongruity between the current state of affairs and some desired state, which consequently prompts oneto think of an alternate course of action. Again, this is also subjective. What one views as a problem mightbe a satisfactory state of affairs for another.ExampleNight shift timings in a company. For a young employee whose preparing for a competitive exam andprefers to prep during daytime or has a parttime daytime job on the side would be satisfied with the timings.Whereas for a woman who’s a workingmother, the time shift might be hard to adjust, given her family lifeand responsibilities, causing her to rethink and look for alternatives.AVAILABILITY BIASOur tendency to base judgements on information that is readily available information. Our previous directexperience with similar information particularly has a strong impact on the decision-making process.Especially when it induces some sort of emotional response that are imprinted strongly in our mind or ismore recent.ExampleIn the workplace, when we seek the advice of like-minded people, we activate our Availability Bias.Taking the time to consult multiple opinions, or going directly to someone who thinks differently will notonly give us contrasting information and ideas, but simply taking the time to consult other people will slowdown our decision-making process so that we cannot make an automatic decision.

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 14 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Fall
Professor
Rohith
Tags
Decision Making, Raju, Jeffrey Wigand, Yelena, Reshma S Nair

Newly uploaded documents

Show More

Newly uploaded documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture