Search this bookE My highligh1. What are some of the factors that enabled to Jen Rubio and Stephanie Korey to make good decisions whenthey established their luggage company, Away?2. What are the two systems that the brain uses in decision-making? How are they related to programmed andnonprogrammed decisions?3. What is a heuristic, and when would it be appropriate to use a heuristic for decision-making?4. What is confirmation bias? Explain how it can be a barrier to effective decision-making.5. What is a logical fallacy?6. What are the two types of conflict? Which one is constructive, and which is destructive?7. What are the steps in the decision-making process? Which ones do people tend to skip or spend insufficienttime on?8. What can individuals do to improve the quality of their decision-making?9. What can groups or group leaders do to improve the quality of group decision-making?10. What are the benefits of decision-making in a group, instead of individually?< PreviousNext >11:059/3/20hpfiof12insertprt sc&6L.8.backspY

8. Answer The individuals can do many things to improve the quality of their decision making which…

time on? 8. What can individuals do to improve the quality of their decision-making? 9. What can groups or group leaders do to improve the quality of group decision-making? 10. What are the benefits of decision-making in a group, instead of individually?

time on? 8. What can individuals do to improve the quality of their decision-making? 9. What can groups or group leaders do to improve the quality of group decision-making? 10. What are the benefits of decision-making in a group, instead of individually?

Management, Loose-Leaf Version

13th Edition

ISBN:9781305969308

Author:Richard L. Daft

Publisher:Richard L. Daft

Chapter9: Managerial Decision Making

Section: Chapter Questions

Problem 1SGB

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Question

Search this book
E My highligh
1. What are some of the factors that enabled to Jen Rubio and Stephanie Korey to make good decisions when
they established their luggage company, Away?
2. What are the two systems that the brain uses in decision-making? How are they related to programmed and
nonprogrammed decisions?
3. What is a heuristic, and when would it be appropriate to use a heuristic for decision-making?
4. What is confirmation bias? Explain how it can be a barrier to effective decision-making.
5. What is a logical fallacy?
6. What are the two types of conflict? Which one is constructive, and which is destructive?
7. What are the steps in the decision-making process? Which ones do people tend to skip or spend insufficient
time on?
8. What can individuals do to improve the quality of their decision-making?
9. What can groups or group leaders do to improve the quality of group decision-making?
10. What are the benefits of decision-making in a group, instead of individually?
< Previous
Next >
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9/3/20
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fio
f12
insert
prt sc
&
6
L.
8.
backsp
Y

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Miriam and Devon are both upper-level managers, but have very different decision-making styles. Please name and describe in your own words four decision making processes that could be used to guide their decision making. In addition, provide and explain in your own words 10 ways in which their decision could, in general, be derailed or hindered, and explain each.
a, How is your rationality bounded with respect to your decisions in general, for example buying a new car? In what ways are you optimizing? In what ways are you satisficing? Explain. b. Which cognitive biases and behavioral challenges could affect your decision-making? How could noise, as described in this class, affect your decision-making? Explain. c. Suggest a heuristic that should be helpful when making this decision. Explain why it should usually help (which bias is it related to) and when it might lead to mistakes. d. How can you nudge yourself to a better decision? Why do you expect it to work? What other techniques can you use to limit the effects of biases and noise? e. How might the cognitive effects of scarcity (e.g. focus dividend, bandwidth tax) or present bias affect the financial aspect of your decision? How will you reduce this effect?
Decision-Making (Cognitive) Biases Obtain from your library (or, from https://hbr.org/2011/06/the-big-idea-before-you-make-that-big-decision) a copy of the following article:D. Kahneman, D. Lovallo, and O. Sibony, “Before You Make That Big Decision. . . ,” HarvardBusiness Review, June 2011, pp. 51–60. In this article, the authors argue that “Even highly experienced, superbly competent, and well-intentioned managers are fallible” (p. 60). They discuss avariety of cognitive biases associated with the decision-making process. Such biases can diminishthe quality of decisions. The authors maintain that understanding these biases may decrease theireffect and offer a checklist designed to facilitate decision quality control.Required1. What is meant by the term “cognitive bias”?
2. If your problem-solving insights are requested by top management, you willcompare intuitive and logical decision-making methods.3. Can you describe the environment of the decision maker and the criteria for makingan accurate/scientific decision as a learner of Human Behavior in an Organization?4. In presenting your suggestive solution to the issues and concerns of yourcompany, there is a protocol to clarify pacing and engagement as they contributeto the decision-making process.5. If you are the organization's accountable managerial leader and you are one of themain decision-makers, what are the best-known innovative decision-makingtechniques?
1) What are the key decisions that Andrew Mason has made during Groupon's brief history? How have these decisions influenced Groupon's evolution as an Internet-based business? 2) How can I describe the decisions identified in my previous questions ask in terms of programmed and non programmed decision making? 3) How can I describe the decisions in terms of the rational, bounded rationality, and garbage can models of decision making? 4) How, if at all, has creativity and intuition played a role in the decisions to found and rapidly expand Groupon? 5) Suppose i think the market for group-based online coupons has great potential, and you desire to enter the competitive fray, what factors would i consider in deciding whether to come a Groupon competitor?
Lesson 6 (Decision making and creativity) Briefly state the different between rational decision making, bounded rational rationality an decision making by intuition` What do you understand by creativity is an essential component in decision making.
Discuss the different roles played by the qualititative and quantitiative approaches to managrial decision making. Why it is important for a manager or decision maker to have a good understanding of both of these approaches to decision making?
What are some of the factors that enabled to Jen Rubio and Stephanie Korey to make good decisions when they established their luggage company, Away?
Attach the decision tree to business decision model to something a manager does every day and include insights into how you crafted it. How would you apply this decision-making experience to larger scale decisions at an organizational level?
What decision theory style is closest to the decision making style used by Steve jobs?
What is the role of Porter's Five Forces model in decision making?
According to this case study, what are the CEO bias's (i.e., anchoring bias, overconfidence bias, etc) that may have entered the decision making process?