Week 13

Week 13 - Overview & Learning Objectives

Attached Files:

·  Chapter 13. Decision-Making Processes.pptx  Chapter 13. Decision-Making Processes.pptx - Alternative Formats (667.754 KB)

Assigned Readings:

Chapter 13. Decision-Making Processes.

Overview:

Decision-making processes can be thought of as the brain and nervous system of an organization. First, chapter 13 defines decision making and the different types of decisions managers make. Next, the chapter examines individual decision making, including cognitive biases. The next section describes an ideal model of decision making and then examines how managers actually make decisions. The chapter explores several decision-making models and describes their use. Finally, the chapter discusses special issues, such as high-velocity environments, decision mistakes, and learning.

Chapter 13. Decision-Making Processes

Learning Objectives

After reading this chapter you should be able to:

1. Explain the differences between programmed and nonprogrammed decisions.

2. Describe the ideal, rational approach to decision making, comparing it with the bounded rationality approach to decision making.

3. Describe how cognitive biases can cause decision errors.

4. Explain the management science approach to decision making.

5. Describe the Carnegie and incremental decision models.

6. Identify the components of the garbage can model of decision making.

7. Explain how to determine the best decision-making approach by using the contingency decision-making framework.

8. Describe how high-velocity environments and decision mistakes influence decision making for today’s managers.

Reflection and Discussion Forum Week 13

Assigned Readings:

Chapter 13. Decision-Making Processes.

Initial Postings:  Read and reflect on the assigned readings for the week. Then post what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding in each assigned textbook chapter.Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion.

Also, provide a graduate-level response to each of the following questions:

1. When you are faced with choosing between several valid options, how do you typically make your decision?  How do you think managers typically choose between several options?  What are the similarities between your decision process and what you think managers do?

[Your post must be substantive and demonstrate insight gained from the course material. Postings must be in the student's own words - do not provide quotes!]

 [Your initial post should be at least 450+ words and in APA format (including Times New Roman with font size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word version of the paper for APA review]

Activity 13

How would you make a decision to select a building site for a new waste- treatment plant in the Philippines?  Where would you start with this complex decision, and what steps would you take?  Explain which decision model in the chapter best describes your approach.

The assignment is to answer the question provided above in essay form. This is to be in narrative form and should be as thorough as possible. Bullet points should not to be used. The paper should be at least 1.5 - 2 pages in length, Times New Roman 12-pt font, double-spaced, 1 inch margins and utilizing at least one outside scholarly or professional source related to competitive strategy. The textbook should also be utilized. Do not insert excess line spacing. APA formatting and citation should be used.