Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

BU398 Final > Chapter 13: Decision-Making > Flashcards

Chapter 13: Decision-Making Flashcards

1
Q

Decision making today

A

high elements of rapid change, greater complexity, and uncertainty

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

New Decision making requirements

A
  • must be made faster
  • no one individual has all information needed
  • rely less on hard data
  • there is less certainty about outcomes
  • evolve through trial and error
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Individual

A
  • rational approach
  • bounded rationality approach
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Organizational Decision Making Models

A
  • management science approach
  • incremental decision process model
  • garbage can model
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Rational approach

A

a process of decision making that stresses the need for systematic analysis of a problem followed by choice and implementation in a logical sequence
- ideal model, not fully achievable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

bounded rationality approach

A

how decisions are made under severe time and resource constraints

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Rational approach 2 stages

A
  • problem identification stage
  • problem solution stage
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Problem Identification Stage

A
  1. monitor the decision environment
  2. define the decision problem
  3. specify decision objectives
  4. diagnose the problem
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Problem solution stage

A
  1. develop alternative solutions
  2. Evaluate alternatives
  3. Choose the best alternative
  4. Implement the chosen alternative
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Organizational Decision Making

A

the organizational process of identifying and solving problems

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Programmed Decisions

A

Repetitive and well defined procedures that exist for resolving problems

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Nonprogrammed Decisions

A

Novel and poorly defined, made when no procedure exists for solving the problem
- bounded rationality
- organization constraints
- personal constraints
- decision/ choice

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Management Science Approach

A

Organizational decision making that is the analogue to the rational approach by individual managers
- uses statistics
- removes human element
- successful in complex and stable environments
- lack tacit knowledge

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Explicit knowledge

A

Can be written down, can be quantified

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Tacit knowledge

A

Qualitative, can’t be quantified

Personal knowledge; transmitted through personal contact

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Carnegie Model

A

organizational decision making involving many managers and a final choice based on a coalition among those managers
- uncertainity and conflict cause coalition formation, causes search and satisficing decision behaviour

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

coalition

A

an alliance among several managers who agree through bargaining about organizational goals and problem priorities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Satisficing

A

Satisfying and sacrificing, the acceptance by organizations of a satisfactory rather than a maximum level of performance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Incremental Decision Process Model

A

a model that describes the structured sequence of activities undertaken from the discovery of a problem to its solution

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Incremental Decision Process Model: Phases

A
  1. Identification
  2. Development
  3. Selection
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Identification

A
  • Recognition
  • Diagnosis
22
Q

Development

A
  • search/ screen
  • design
23
Q

Selection

A
  • judgement evaluation
  • analysis evaluation
  • bargaining evaluation
  • authorization
24
Q

Combining Incremental Process and Carnegie Model

A

Problem Identification –> Problem Solution

25
Q

Problem solution

A

the decision-making stage in which alternative courses of action are considered and one alternative is selected and implemented

26
Q

The Garbage Can Model

A

Describes the flow of multiple decisions within the organization
- organized anarchy
- ongoing stream of events

27
Q

Organized Anarchy:

A
  • Extremely organic organizations characterized by highly uncertain conditions
    Problematic preferences
  • Unclear, poorly understood technologies
  • Turnover
28
Q

Ongoing stream of events

A
  • problems
  • potential solutions
  • participants
  • choice opportunities
29
Q

Problems

A

Gaps between desired performance and current activities. Some problems are never solved

30
Q

Potential solutions:

A

An idea someone proposes for adoption, whether or not it fits a particular solution

31
Q

Participants

A

People are hired, reassigned, fired. As people move, problems, solutions & opportunities are defined and redefined

32
Q

Choice opportunities

A

occasions when a decision is made, sometimes as a random collision of people and ideas

33
Q

Garbage Can Model Consequences

A
  • Solutions may be proposed even when problems do not exists
  • Solutions arise without choice opportunities or participants
  • Choices are made without solving problems
  • Problems may persist without being solved
  • A few problems are solved; many are not
34
Q

Contingency Framework

A

a perspective that brings together the two organizational dimensions of problem consensus and technical knowledge about solutions

35
Q

Contingency Framework Axis

A

Problem Consensus
Solution Knowledge

36
Q

Quad 1

A

Problem Consensus Certain and Solution Knowledge Certain
- individual: rational approach, computation
- organization: management science

37
Q

Quad 2

A

Problem consensus uncertain and solution knowledge certain
- individual: bargaining, coalition formation
- organization: Carnegie model

38
Q

Quad 3

A

Problem consensus certain and solution knowledge uncertain
- individual: judgement, trail and error
- organization: incremental decision process model

39
Q

Quad 4

A

Problem consensus uncertain and solution knowledge uncertain
- individual: bargaining and judgment, inspiration and imitation
- organization: canegie and incremental decision, evolving to garbage can model

40
Q

imitation

A

the adoption of a decision tried elsewhere in the hope that it will work in the present situation

41
Q

inspiration

A

an innovative, creative solution that is not reached by logical means

42
Q

decision learning

A

a process of recognizing and admitting mistakes that allows managers and organizations to acquire the experience and knowledge to perform more effectively in the future

43
Q

escalating commitment

A

persisting in a course of action when it is failing; occurs because managers block or distort negative information and because consistency and persistence are valued in contemporary society

44
Q

evidence-based management

A

a commitment to make better informed decisions based on facts and evidence

45
Q

groupthink

A

the tendency of people in groups to suppress their own views

46
Q

high-velocity environments

A

industries in which competitive and technological change is so extreme that market data are either unavailable or obsolete, strategic windows open and shut quickly, and the cost of a decision error is company failure

47
Q

intuitive decision making

A

the use of experience and judgment, rather than sequential logic or explicit reasoning, to solve a problem

48
Q

point-counterpoint

A

a decision-making technique that divides decision makers into two groups and assigns them different, often competing, responsibilities

49
Q

problem consensus

A

the agreement among managers about the nature of problems or opportunities and about which goals and outcomes to pursue

50
Q

problemistic search

A

when managers look around in the immediate environment for a solution to resolve a problem quickly

51
Q

prospect theory

A

a theory that suggests that the threat of loss has a greater impact on decisions than the possibility of an equivalent gain

BU398 Final (4 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions