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Foundations of decision making (decision-making errors and biases (framing…
Foundations of decision making
the decision making process
identification of a problem
identification of decision criteria
allocation of weights to criteria
development of alternatives
analysis of alternatives
selection of an alternative
implementation of the alternative
evaluation of decision effectiveness
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decision-making errors and biases
framing
availabilty
confirmation
representation
selective perception
randomness
anchoring effect
sunk costs
immediate gratification
self-serving
overcofident
hindsight
managers make decision need
leading
organizing
planning
controlling
intuition
experience-based decision
affect-initiated decision
values or ethics-based decisions
cognitive-based decision
subconscious mental processing
for structured problems use
rules
politics
procedure