Please enable JavaScript.
Coggle requires JavaScript to display documents.
Functions of Decision Making (Decision Making Errors and Biases…
Functions of Decision Making
Decision Making Process
Development of Alternatives
Analysis of Alternatives
Allocation of Weights to Criteria
Selection of an Alternative
Identification of Decision Criteria
Implementation of the Alternative
Identification of a Problem
valuation of Decision Effectiveness
Type of Problem
structured problems
unstructured problems
Decision Making Errors and Biases
Overconfidence
Immediate Gratification
Anchoring Effect
Selective Perception
Confirmation
Framing
Availability
Representation
Randomness
Sunk Costs
Self-Serving
Hindsight
3 Approaches
Bounded Rationality
Escalation of commitment
satisfice
Intuitive Decision Making
Experience-Based Decisions
Affect-Initiated Decisions
Cognitive-Based Decisions
Values or Ethics-Based Decisions
Subconscious Mental Processing
Rational Model
Rational Decision Making
Type of Decisions
Programmed Decisions
Nonprogrammed Decisions
How do groups mack decisions?
task forces
review panels
committees
work teams
Decision-Making Condition
rick
uncertainty
certainty
Advantages of Group Decision Making
Diversity of experiences/perspectives
More complete information
More alternatives generated
Increased acceptance of solution
Increased legitimacy
Disadvantages of Group Decision Making
Minority domination
Time-consuming
Ambiguous responsibility
Pressures to conform
Groupthink
How it occurs
How to minimize it
What it does
Improving Group Decision Making
The nominal group technique
Electronic meetings
Brainstorming
Contemporary Issues
Creativity
Design thinking:
National culture
Big Data