Flashcards
Individuals and team/group decision making
Cards in this deck (36)
- 1What are the 4 stages of rational decision making?Identify the problem or opportunity
Think up alternative solutions
Evaluate alternatives and select a solution
Implement and evaluate the solution chosen - 2Complete information, no uncertainty""You should obtain complete, error free information about all alternative courses of action and the consequences that would follow from each choice.
- 3Logical, unemotional analysis""Having no prejudices or emotional blind spots, you are able to logically evaluate the alternatives, ranking them from best to worst according to your personal preferences.
- 4Best decision for the organisation""Confident of the best future course of action, you coolly choose the alternative that you believe will most benefit the organisation
- 5What is bounded rationality?Suggests that the ability of decision makers to be rational is limited by numerous constraints such as complexity, time and money, and cognitive capacity.
- 6What is the satisficing model?Managers seek alternatives until they find one that is satisfactory, not optimal.
- 7What is the Incremental Model?Making short term decisions, step by step.
- 8What is the Intuition model?Making a choice without the use of conscious thought or logical inference. Sources are expertise and feelings.
- 9What are the advantages of group decision making?Greater pool of knowledge
Different perspectives
Intellectual stimulation
Better understanding of decision rationale
Deeper commitment to the decision - 10What are the disadvantages of group decision making?A few people dominate or intimidate
Groupthink
Satisficing
Goal displacement - 11What is Groupthink?Occurs when group members strive to agree for the sake of unanimity and thus avoid accurately assessing the decision situation.
- 12What are 4 key points to remember about group decision making?They are less efficient
Their size affects decision quality
They may be too confident.
Knowledge counts. - 13What is Participative management?Process of involving employees in setting goals, making decisions, solving problems an making changes in the organisation.
- 14What are 4 group problem solving techniques?Consensus, Brainstorming, Delphi Technique and Computer aided decision making.
- 15What is the Delphi Technique?A group process that uses physically dispersed experts who fill out questionnaires to anonymously generate ideas.
- 16What is Computeraided decision making?Useful not only in collecting information more quickly but also in reducing roadblocks in group consensus.
- 17What are Chauffeurdriven systems? (Computer aided decision making)Ask participants to answer predetermined questions on electronic keypads or dials.
- 18What are groupdriven systems? (Computer aided decision making)Involves a meeting within a room of participants ho express their ideas anonymously on a computer network.
- 19What are 4 ineffective responses to a decision situation?Relaxed avoidance
Relaxed change
Defensive Avoidance
Panic - 20What are 3 effective responses to a decision situation?Importance (How high priority is this situation?)
Credibility (How believable is the information about the situation?)
Urgency ( How quickly must I act on the information about the situation) - 21What is Overconfidence Bias?Decision makers trust rather than verify their facts and perceptions.
- 22What is Immediate gratification bias?Decision makers choose alternatives which provide quick payoffs and/or avoid immediate costs
- 23What is the Anchoring effect?Decision makers overemphasise information received early in the decision process.
- 24What is Selective perception Bias?Decision makers distort identification of problems, the development of alternatives and evaluation processes.
- 25What is confirmation bias?Decision makers seek out information that reaffirms their past choices and discounts information that contradicts past judgements.
- 26What is Framing bias?Decision makers distort what they see and create incorrect reference points.
- 27What is availability bias?Decision makers distort judgements and probability estimates.
- 28What is Representation Bias?Decision makers make decisions for the situation they perceive as similar rather than the actual situation.
- 29What is Randomness?Decisions are made based on assumptions of connections between events.
- 30What are sunk costs?Decision makers incorrectly fixate on past expenditures of time, money or effort in assessing choices rather than on future consequences.
- 31What is self serving?Decision makers choose alternatives which reflect well on them rather than those which are the best solutions.
- 32What is Hindsight bias?Decision makers incorrectly credit themselves with the ability to accurately predict outcomes.
- 33What are the best ways to help your staff make decisions?Program decisions (Policy making)
Mindfulness
Nudging (Positive reinforcement) - 34What makes it hard to be evidence based?Too much evidence
Not enough good evidence
Evidence does not apply
People try to mislead you
You are misleading yourself
The side effects outweigh the cure - 35What are analytics?Sophisticated forms of business data analysis (I.e: portfolio analysis, time series forecast)
- 36How do you make an ethical decision?Is the proposed action legal?
If yes, does the proposed action maximise shareholder value?
If yes, is the proposed action ethical?
If no, would be ethical not to take the proposed action?
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- BBA102 Principles of Management Flashcards on Individuals and team/group decision making, created by Michaela Juric-Donlan on 24/03/2017.
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- Michaela Juric-Donlan
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