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Assignment 1: Discussion—Behavioral Heuristics

 

Behavioral heuristics, such as availability, anchoring, vividness, storage, conjunction fallacy, and representativeness, all reflect behavioral traits, which if left unchecked may lead to systematic bias in the choices you make. For example, anchoring and availability can lead to disastrous decisions.

You may know how to recognize these heuristics, but consider how they may have influenced you in the past.

Find at least one example from your own career where you, or another manager, allowed one of these or another pitfall, to sway you from the mean.

Respond to the following:

  • Why did you/they ignore the base rates?
  • What other statistically relevant factors did you/they fail to incorporate?
  • How could you have altered the framing of the situation to make a better decision?

Write your initial response in approximately 300 words. Apply APA standards to citation of sources.

 

Assignment 2: Discussion—Persuasion and Influence

Cialdini (2001) provides many compelling insights into how choices are influenced. Even though marketers are barred from outright deception, you can still find examples of information or promotions designed to lead customers in a direction that may not be in their rational best interest.

Some theorists suggest that rationality only plays a part in one’s decision toolkit. Outside influences (one such example is authority figures hawking goods or services) bear upon the choices you make. It is a susceptibility to these outside pressures and social constructs that may lead you, as a decision maker, away from well-reasoned optimization. The ability to manipulate an individual along these lines leads to the use of nonrational techniques, which are recognizable in the marketing efforts that can inundate your life.

Review the article “Harnessing the Science of Persuasion” by R. B. Cialdini (2001) from this module’s assigned readings. Consider Cialdini’s insights on nonrationaltechniques.

To access the following article follow the steps listed below:

Cialdini, R. B. (2001). Harnessing the science of persuasion. Harvard Business Review79(9), 72–79.

  • Launch the Online Library
  • Click on the Find Articles and More button on the library homepage
  • Next, click on the link for Business Source Complete
  • Enter in the complete title of the article with quotation marks into the search box and then click search (i.e. “Harnessing the science of persuasion”)
  • Click on PDF Full Text to read the article

Respond to the following:

  • Consider the last two major purchases you made, and list the techniques that may have swayed your choices. Why do you think these techniques impacted your decision?
  • What would you do in the future to avoid these psychological pitfalls?

post your response to the appropriate Discussion Area.  review and comment on at least two peers’ responses.

Write your initial response in 300 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation



Do the following when responding to your peers:

  • Read your peers’ answers.
  • Provide substantive comments by
    • contributing new, relevant information from course readings, Web sites, or other sources;
    • building on the remarks or questions of others; or
    • sharing practical examples of key concepts from your professional or personal experiences
  • Respond to feedback on your posting and provide feedback to other students on their ideas.
  • Make sure your writing
    • is clear, concise, and organized;
    • demonstrates ethical scholarship in accurate representation and attribution of sources; and
    • displays accurate spelling, grammar, and punctuation.
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