Abstract of Judgement & Decision Making Topics Essay examples

2441 Words Apr 1st, 2010 10 Pages
Reading 1.3 (Jackall, R. (1988)) : Looking Up and Looking Around

In every corporation the crux of a manager’s charisma is his decision making prowess. Though there is an abundance of scientific theories and myths related to decision making, generally decisions are made in a highly rationalized context.

A manager would prefer taking decisions that are based on well-formulated and generally agreed upon strategies rather than evaluating all the possible solutions to the problem in hand and then taking a well reasoned decision. In contrast, managers are highly uncomfortable when faced with situations in which there are no specific procedures. Managers vouch for their own safety, safety in terms of reputation and therefore tend to
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These observations were in respect to technology and environment but in terms of personality structure there is no evidence as to variation in risk perception. In spite of these observations one cannot presume that risk taking is preferred by cultures of individualism and hierarchy neither can one presume that egalitarians are always risk averse this is because as risks pertaining to technology and environment are feared by egalitarians in a similar way social deviance is feared by hierarchists and the risk of war is feared by individualists.

In conclusion, depending on the object of attention risk perception also varies.

Experience:

During my tenure in a shipping company as a procurement executive I had once the task to procure water pump for eight ships. Since this was a high priority requirement and involved huge costs I made sure I had researched the market well and decided on a particular brand (Grundfos) even though there was another pump (Davey) that perfectly suited our requirements. The reason was that Davey’s technical support was really bad. So I forwarded the research report to my MD who called for me and told me to go ahead with the purchase of the Davey pump telling me that it was profitable and worthwhile to get our own technicians trained since we could use more of their pumps. To me it seemed like a big risk especially since it involved a huge cost but to him it didn’t seem

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