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Organizational Management > Ch 4 > Flashcards

Ch 4 Flashcards

1
Q

Problem solving

A

involves identifying and taking action to resolve problems

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2
Q

Knowledge workers

A

add value to organizations through their intellectual capabilities

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3
Q

Technological competency

A

the ability to understand new technologies and to use them to their best advantage

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4
Q

Information copetency

A

ability to gather and use information to solve problems

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5
Q

Analytical competency

A

ability to evaluate and analyze information to make actual decisions and solve real problems

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6
Q

Performance threat

A

situation where something is wrong or likely to be wrong

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7
Q

Performance opportunity

A

situation that offers the possibility of a better future if the right steps are taken

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8
Q

Decision

A

choice among possible alternative course of action

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9
Q

Programmed decision

A

applies a solution from past experience to a routine problem; preexisting rules; structured problems, can use rules policies which were already created ex. Walmart products

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10
Q

Problem avoiders

A

ignore information that would otherwise signal the presence of a performance threat or opportunity; not active in gathering information and prefer not to make decisions or deal with problems

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11
Q

Problem solvers

A

make decisions and try to solve problems, but only when required; they reactive, gathering information and responding to problems when they occur, but not before

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12
Q

Problem seekers

A

always looking for problems to solve or opportunities to explore; proactive as information gatherers, and they are forward thinking; anticipate threats and opportunities, are eager to take action to gain the advantage in dealing with them

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13
Q

Nonprogrammed decision

A

applies a specific solution that has been crafted to address a unique problem; where error occurs; unstructured elements don’t know about; require thinking information and facts to make decisions ex. new product

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14
Q

Systematic thinking

A

approaches problems in a rational and analytical fashion

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15
Q

Intuitive thinking

A

approaches problems in a flexible and spontaneous fashion

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16
Q

Common mistakes when identifying problems

A

1) defining problem too broadly or too narrowly
2) dealing with symptoms, not real causes
3) focusing on wrong problem to begin with

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17
Q

Decision making process

A

1) identify and define the problem
2) generate and evaluate alternative solutions
3) decide on preferred courses of action
4) implement the decision
5) evaluate results

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18
Q

Cost-benefit analysis

A

involves comparing the costs and benefits of each potential course of action

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19
Q

Classical decision model

A

describes decision making with complete information

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20
Q

Optimizing decision

A

perfect solution can be reached after analyzing all possible alternatives

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21
Q

Behavioral decision model

A

describes decision making with limited information and bounded rationality

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22
Q

Satisfying decision

A

chooses the first satisfactory alternative that presents itself

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23
Q

Lack of participation error

A

failure to include the right people in the decion making process

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24
Q

Spotlight questions

A

highlight the risks of public disclosure of one’s actions

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25
Q

Creativity

A

the generation of a novel idea or unique approach that solves a problem or crafts an opportunity

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26
Q

Big-C Creativity

A

occurs when extraordinary things are done by exceptional people

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27
Q

Little-C creativity

A

occurs when average people come up with unique ways to deal with daily events and situations

28
Q

Why group decisions can be good?

A

more information; more alternatives; increased understanding; greater committment

29
Q

Why group decisions can be bad?

A

conformity with social pressures; domination by a few members; time delays

30
Q

Availability heuristic

A

uses readily available information to assess a current situation

31
Q

Representativeness heuristic

A

assess the likelihood of an occurrence using a stereotyped set of similar events

32
Q

Anchoring and adjustment heuristic

A

adjusts a previously existing value or starting point to make a decision

33
Q

Framing error

A

solving a problem in the context perceived

34
Q

Confirmation error

A

when we attend only to information that confirms a decision already made

35
Q

Escalating commitment

A

continuation of a course of action even though it is not working

36
Q

Crisis

A

unexpected problem that can lead to disaster if not resolved quickly and appropriately

37
Q

Classical Model

A

prescriptive/ theoretical; assumes that complete information is available; prescribes generating and analyzing all possible alternatives

38
Q

Behavior Model

A

practical model; assumes that in real world incomplete information is available; describes generating and analyzing realistically possible alternatives that meet the acceptability threshold

39
Q

Satisficing

A

satisfactory decision is reached after analyzing the acceptable alternatives

40
Q

Systematic Decision Making Process

A

-identify and define the problem, develop decision criteria, generate and evaluate alternatives, select among alternatives, implement the chosen alternative, evaluate and revise

41
Q

Factors affecting DM

A

Contextual and Personal

  • organizational competencies
  • decision situation
  • decision type
  • decision making process
  • cognitive biases
42
Q

Organizational Competencies

A
  • technological
  • informational
  • analytical
43
Q

Decision situation

A
  • certainty
  • risk
  • uncertainty
44
Q

Decision Type

A
  • programmed decisions

- non-programmed decisions

45
Q

Decision Making Process

A
  • intuitive

- systematic

46
Q

Intuitive DM

A

based on expertise, knowledge, information, and personal experiences accumulated over the years
subjective, requiring personal judgement or “gut feeling”
involves information analysis at the unconscious or subconscious level

47
Q

Systematic DM

A
  • based on facts, information, and knowledge, gathered specifically to solve the current problem
  • more objective and systematic, requiring analytical and problem solving skills, creativity, and logic
  • involves information analysis at the conscious level
48
Q

Risk

A

have some information; probability; can calculate ex. Zara

49
Q

Uncertainty

A

almost no information, not enough information to make calculation

50
Q

Cognitive Biases

A

mess up decision making capabilities

-assumptions; sterotypes

51
Q

Systematic DM process

A
  • identify and define the problem (issues)
  • develop decision criteria (decide what you want out of decision)
  • generate and evaluate alternatives (possible solutions, info gathering–organizational competencies; creativity)
  • Select Among Alternatives (chose best that satisfy STEEPLE)
  • Implement the chosen alternative (take action)
  • evaluate and revise
52
Q

Evaluation

A

1) criteria
2) cost-benefit analysis
3) environmental aspects

53
Q

STEEPLE

A 
Social-culture
Technology
Economical
Ethical
Practical
Legal
Enviornmental
54
Q

Cognitive Biases in DM

A
  • representativeness bias
  • escalation of commitment
  • emotional tagging
  • anchoring & adjustment bias
  • framing bias
  • status quo trap
  • confirmation bias
  • availability bias
  • immediate gratification
55
Q

Representativeness Bias

A
  • when people tend to make judgments or decisions based n their previous experiences in seemingly similar situations, or make generalizations based on a limited sample
  • our perceptions of similarities in two or more situations/people affect our decisions
56
Q

Escalation Commitment

A
  • when a manger keeps on justifying and investing more resources (money, time, effort) in a project because of investing a lot already, despite evidence that costs outweigh the expected benefit
  • how much have we invested in a situation in the past affects our decision
57
Q

Emotional tagging

A
  • when people tend to make decisions based on their previous or current emotional experiences
  • what we love/hate; like/dislike; fear/envy affect our decisions
    ex. IBM
58
Q

Anchoring and adjustment bias

A
  • when people tend to make judgments or decisions based on an initial information or figure; the initial figure serves as the “anchor” and we tend to “adjust” our decisions around that
  • what figures we start with affect our judgments and decisions
59
Q

Framing bias

A
  • when people tend to make judgments or decisions based on how the information/situation is presented to us or “framed”
  • how we perceive the situation (gain vs loss) affects our decisions
60
Q

Status Quo trap

A
  • when people decided to stay with default options/choices offered, not making the effort to explore other alternatives
  • our predisposition to perpetuate the “status quo” and avoid risk affects our decisions
61
Q

Confirmation bias

A

-when decision makers actively seek out and assign more weight to information that confirms their hypothesis, and ignore evidence that is contrary to their hypothesis

62
Q

Availability Bias

A
  • when people tend to make judgments or decisions based on information that is easily available or recalled
  • what’s in our short term memory affects our decisions
63
Q

Immediate Gratification

A
  • when people tend to make decisions based on short term gains and immediate solution to the situation
  • what can help us now lets decide on that
64
Q

How to minimize cognitive biases?

A
  • be aware of the biases
  • seek expert advice and or outside perspective
  • set decision making criteria
  • remove self interest
  • constantly reevaluate decisions
  • use six thinking hats
65
Q

Effective decisions

A
  • involves applying both intuition and logic judiciously
  • managers must understand the rational DM process and cognitive process; so as to capitalize on the DM process and minimize personal biases
66
Q

Logical Decision making

A

may be constrained by bounded rationality, incomplete information, use of heuristics, and cognitive biases in the real world

67
Q

DM

A

complex, cognitive process applied in all areas of managment

Organizational Management (9 decks)

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