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THE DECISION MAKING PROCESS 4.2 Step 4 – Implement the Decision

THE DECISION MAKING PROCESS 4.2 Step 4 – Implement the Decision

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THE DECISION MAKING PROCESS 4.2



Step 5 – Evaluate Results

• Did the decision solve the problem?

• Results must be evaluated against

objectives set at the beginning of the

process.



Copyright ©2018 John Wiley & Sons, Inc.



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THE DECISION MAKING PROCESS 4.2



Ethical Reasoning is Important

Checking the Ethics of a Decision:

Criteria from Ethicist Gerald Cavanagh



Utility

Rights

Justice

Caring



Does the decision satisfy all constituents or

stakeholders?

Does the decision respect the rights and duties of

everyone?

Is the decision consistent with the canons of justice?

Is the decision consistent with my responsibilities to

care?



Copyright ©2018 John Wiley & Sons, Inc.



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THE DECISION MAKING PROCESS 4.2



Ethical Reasoning is Important

• Spotlight questions

• How would I feel if my family found

out about this decision?

• How would I feel if this decision

were published in the local

newspaper or posted on the

Internet?

• What would the person I know who

has the strongest character and best

ethical judgment say about my

decision?

Copyright ©2018 John Wiley & Sons, Inc.



25



THE DECSION MAKING PROCESS 4.2



Study Guide for Takeaway 4.2

Rapid Review:

• The steps in the decision-making process are: (1) identify and define the

problem; (2) generate and evaluate alternatives; (4) decide on the preferred

course of action; (4) implement the decision; (5) evaluate the results;

conduct ethics double-check in all steps.

• A cost-benefit analysis compares the expected costs of a decision alternative

with its expected results.

• In the classical model, an optimizing decision chooses the absolute best

solution from a known set of alternatives.

• In the behavioral model, cognitive limitations lead to satisficing decisions

that choose the first satisfactory alternative to come to attention.

• The ethics of a decision can be checked on the criteria of utility, rights,

justice, and caring, as well as by asking the spotlight questions.

Copyright ©2018 John Wiley & Sons, Inc.



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THE DECSION MAKING PROCESS 4.2



Study Guide for Takeaway 4.2



Questions for Discussion:

1. Do the steps in the decision-making process

have to be followed in order?

2. Do you see any problems or pitfalls for

managers using the behavioral decision model?

3. Is use of the spotlight questions sufficient to

ensure an ethical decision?



Copyright ©2018 John Wiley & Sons, Inc.



27



THE DECSION MAKING PROCESS 4.2



Be Sure You Can…for 4.2



• list the steps in the decision-making process

• apply these steps to a sample decision-making situation

• explain cost-benefit analysis

• compare and contrast the classical and behavioral

decision models

• illustrate optimizing and satisficing in your personal

decision-making experiences

• list and explain the criteria for evaluating the ethics of a

decision

• list three questions for double-checking the ethics of a

decision

Copyright ©2018 John Wiley & Sons, Inc.



28



ISSUES IN DECISION MAKING 4.3



Takeaway 4.3 – answers to come

• Creativity can be unlocked and encouraged for

better decision making.

• Group decision making has both advantages and

disadvantages.

• Judgmental heuristics and other biases and traps

may cause decision-making errors.

Managers must be prepared for crisis decision

making.



Copyright â2018 John Wiley & Sons, Inc.



29



ISSUES IN MANAGERIAL DECISION MAKING 4.3



Creativity Drives Better Decision Making

• Creativity – generating a novel idea or unique

approach

• Big-C creativity occurs when extraordinary things are done

by exceptional people.

• Little-C creativity occurs when average people come up

with unique ways to deal with daily events and situations.



Copyright ©2018 John Wiley & Sons, Inc.



30



ISSUES IN DECISION MAKING 4.3



Personal Factors Drive Creativity



Personal creativity drivers

• Task expertise is expanding an existing skill

• Task motivation is the drive to work hard

• Creativity skills include imagination, intuition, holistic

processing, right-brain characteristics



Copyright ©2018 John Wiley & Sons, Inc.



31



ISSUES IN MANAGERIAL DECISION MAKING 4.3



Team Decision Making

Advantages



Disadvantages



More information available—Members

offer information, expertise, and

viewpoints for problem solving.

More alternatives considered—Members

generate and consider more alternative

courses of action.

Increased understanding—Members gain

understanding and are more likely to

accept decisions.

Greater commitment—Members gain

commitment to work hard and support

decisions.



Social pressures to conform—Some

members may “go along” because they

feel intimidated.

Domination by a few—A small coalition of

members may dominate discussion and

decision making.

Time delays—It takes time for many

people to make decisions together.



Copyright ©2018 John Wiley & Sons, Inc.



32



ISSUES IN MANAGERIAL DECISION MAKING 4.3



Decision Making Errors

• Heuristics simplify decision making when time or information

are scarce. Examples include a “rule of thumb” or “trial and

error.”

• Availability Heuristic occurs when people use information

“readily available” as a basis for assessing a current event or

situation.

• Representative Heuristic occurs when people assess the

likelihood of something occurring based on its similarity to a

stereotyped set of occurrences.

• Anchoring and Adjustment Heuristic involves making decisions

based on adjustments to a previously existing value, or starting

point.

Copyright ©2018 John Wiley & Sons, Inc.



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