tailieunhanh - Lecture Organizational behavior (3rd edition): Chapter 10 - Hitt, Colella, Miller

Chapter 10 - Decision making by individuals and groups. After reading the material in this chapter, you should be able to: Compare and contrast the rational model of decision making, Simon’s normative model, and the garbage can model; review the eight decision-making biases; discuss the thrust of evidence-based decision making and its implementation principles. | decision making by individuals and groups Pages 362-401. KNOWLEDGE OBJECTIVES Describe the fundamentals of decision making, including the basic steps and the need to balance ideal and satisfactory decisions. Discuss four important decision-making styles, emphasizing the effectiveness of each one. Explain the role of risk-taking propensity and reference points. Define cognitive bias and explain the effects of common types of cognitive bias on decision making. Explain the role of moods and emotions in decision making. Discuss common pitfalls of group decision making. Describe key group decision-making techniques. Explain the factors managers should consider in determining the level of associate involvement in managerial decisions. ? See page 362. DECISIONS See page 364. DECISION-MAKING PROCESS Adapted from Exhibit 10-1: The Decision-Making Process Define the Problem Identify Criteria Gather and Evaluate Data List and Evaluate Alternatives Select Best Alternative Implement and Follow Up | decision making by individuals and groups Pages 362-401. KNOWLEDGE OBJECTIVES Describe the fundamentals of decision making, including the basic steps and the need to balance ideal and satisfactory decisions. Discuss four important decision-making styles, emphasizing the effectiveness of each one. Explain the role of risk-taking propensity and reference points. Define cognitive bias and explain the effects of common types of cognitive bias on decision making. Explain the role of moods and emotions in decision making. Discuss common pitfalls of group decision making. Describe key group decision-making techniques. Explain the factors managers should consider in determining the level of associate involvement in managerial decisions. ? See page 362. DECISIONS See page 364. DECISION-MAKING PROCESS Adapted from Exhibit 10-1: The Decision-Making Process Define the Problem Identify Criteria Gather and Evaluate Data List and Evaluate Alternatives Select Best Alternative Implement and Follow Up Feedback See page 365. TYPES OF DECISIONS Optimal Best Choice maximize objectives complete knowledge know outcomes Satisficing Satisfactory Choice satisfies objectives incomplete knowledge probable outcomes See pages 366-367. See page 367. DECISION MAKING STYLES Individuals’ predispositions can affect decision process at two critical stages See pages 367-368. DECISION-MAKING STYLES Adapted from Exhibit 10-2: Influence of Decision Styles Implement and Follow Up Perceptual Influences Intuition Judgmental Influences Feedback Identify Criteria Gather and Evaluate Information List and Evaluate Alternatives Select Best Alternative Define the Problem Using the five senses to identify factual details Feeling Thinking Subjective values with emotional and personal factors Objective analysis, rational procedures See page 368. DEGREE OF ACCEPTABLE RISK Risk outcome of an action is uncertain Risk-taking Propensity willingness to take chances lower versus higher propensity Reference Point .