Responsible for the failure or bc they have invested

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responsible for the failure, or b/c they have invested a lot in the alternative - “throw good money after bad” → to avoid having to admit they made a mistake IMPROVING DECISION MAKING THROUGH KNOWLEDGE MANAGEMENT knowledge management (KM) = process of organizing & distributing an org’s collective wisdom so the right info gets to the right ppl @ the right time - provides org w/ competitive edge & improved org. performance (it makes employees smarter) - becoming more important today b/c: org’s that can quickly & efficiently tap into employee’ collective exp. & wisdom are more likely to “outsmart” competition Baby Boomers leaving workforce, taking knowledge with them well-designed KM system reduces redundancy and inc. efficiency e.g. employees undertaking new project need not start from scratch; can access what previously learned & avoid repeating previous mistakes How do org’s record knowledge & expertise? 1) develop computer databases of info that employees can readily access (identify what knowledge matters to the org) 2) create culture that promotes, values, rewards sharing knowledge
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P ART 4: S HARING THE O RGANIZATIONAL V ISION 3) develop mechanisms that allow employees who have built up valuable expertise & insights to share them w/ others (more knowledge not necessarily better; info overload needs to be avoided by designing system to capture only relevant info & then organizing it so it can be quickly accessed) GROUP DECISION MAKING Group vs. Individual C RITERIA OF E FFECTIVENESS G ROUPS I NDIVIDUALS Accuracy Speed Creativity Degree of Acceptance Efficiency Strengths of Group Decision Making more complete info & knowledge (more input and heterogeneity into decision process) increased diversity of views (opportunity to consider more approaches & alternatives) higher quality decisions (group almost always outperform even the best individual) increased acceptance of solution (group members who participated in making a decision are likely to enthusiastically support it & encourage others to accept it) decision outcomes more accurate & creative Weaknesses of Group Decision Making time-consuming (take more time to reach solution; not always efficient) conformity pressures (group members desire to be accepted & considered an asset; may result in squashing overt disagreement) discussion can be dominated by one or a few members (if domination is composed of low-/medium-ability members, group effectiveness will suffer) ambiguous responsibility Groupthink & Group Shift Groupthink groupthink = phenomenon in which group pressures for conformity prevent the group from critically appraising (assessing) unusual, minority, unpopular views Symptoms of groupthink: Illusion of Invulnerability group members become overconfident among themselves, allowing them to take extraordinary risks Assumption of Morality
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P ART 4: S HARING THE O RGANIZATIONAL V ISION members believe highly in moral rightness of group’s objectives & do not feel the need to debate the ethics of their actions Rationalized Resistance
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