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Decision Making theory wk5l1 ((" not to mince words Mr.Epstein , but…
Decision Making theory wk5l1
as the number of choices increase the decision becomes harder and we will probably be less satisfied with our decision
"everywhere we look,big things and small things ,material things and lifestyle things , life is a matter of choice" - Barry Schwarz (The Paradox of Choice)
we make so many decisions you would think we would be good at it
people make 35000 decisions everyday most are made subconsciously
we prefer more choices than a limited amount of choices but the more choice we have the less satisfied we are with our decision -The Paradox Of Choice
framing is incredibly important an example of framing is Brexit , the British weren't given enough information to have made a good decision and many regret their decision as a result
" not to mince words Mr.Epstein , but we don't like your boys sound . Groups are out. Four-piece groups with guitars particularly are finishes "-Dick Rowe ,Decca Records
The Beatles are extremely successful
A big mistake can be made as a result of one bad decision . An example of this is ;
Barry Cunningham told J.K Rowling to get a day job since she had "little chance of making money on childrens books " She is richer than the queen
managerial role
Henry Mintzberg (1973
nature of managerial work
three roles
interpersonal roles
informational roles
decisional roles
decisions have huge consequences
manager of titanic =E.J Smith , if he had made better decisions perhaps the Titanic would not have sank
improving managerial decision making
Herbert Simon (1947)
Administrative behaviour
decision making
intelligence
Choice
Simon Herbert (1947)
decisions need to efficient and adequate
punnet -diequickly -thrive-die slowly -survive
Design