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Decision Making, Learning, Creativity, and Entrepreneurship - Coggle…

- - - - routine, virtually automatic decision making that follows establish rules or guidelines
        
        managers have make the same decision many times before
        
        There are rules or guidelines to follow based on experience with past decisions
    - - occurs in response to unusual, unpredictable opportunities and threats.
        
        intuition: Feelings, beliefs, and hunches that come readily to mind, require little effort and information gathering, and result in on-the-spot decisions.
        
        reasoned judgment A decision that requires time and effort and results from careful information gathering, generation of alternatives, and evaluation of alternatives.
  - - - The most appropriate decision in light of what managers believe to be the most desirable consequences for the organization.
    - - A prescriptive approach to decision making based on the assumption that the decision maker can identify and evaluate all possible alternatives and their consequences and rationally choose the most appropriate course of action.
  - - - risk and uncertainty
      - ambiguous information
      - incomplete information
      - time constraints and information cost
      - bounded rationality
      - satisficing
- - - - A pattern of faulty and biased decision making that occurs in groups whose members strive for agreement among themselves at the expense of accurately assessing information relevant to a decision
- - - - A decision-making technique in which group members write down ideas and solutions, read their suggestions to the whole group, and discuss and then rank the alternatives.
    - - A decision-making technique in which group members do not meet face-to-face but respond in writing to questions posed by the group leader.
    - - group problem-solving technique in which managers meet face-to-face to generate and debate a wide variety of alternatives from which to make a decision.
- - - - Mobilization of resources to take advantage of an opportunity to provide customers with new and improved goods and services
  - - - A manager who takes “ownership” of a project and provides the leadership and vision that take a product from the idea stage to the final customer
    - - A group that is deliberately separated from normal operations to encourage members to devote all their attention to developing new products
    - - encourage managers to bear the uncertainty and risk associated with the hard work of entrepreneurship