Chapter 4 Managers&Decisions Flashcards
What is technological competency?
the ability to understand new tech. and to use them to their best advantage
What is information competency?
To locate, gather, organize and display info. for decision making and problem solving
What is analytical competency?
to evaluate and analyze info. to make actual decisions and solve real problems
What is problem solving?
to identify and take action to solve problems
What is a decision?
A choice among possible alternative course of action
What is a performance threat?
a situation where something is wrong or likely to be wrong
what is performance opportunity?
a situation that offers the possibility of a better future
What are 2 types of decisions?
programmed and structured / non-programmed and unstructured
What is programmed/structured?
a solution from past experiences and fairly repetitive problem
what is non-programmed and unstructured?
a solution designed specifically for a significant problem
What are the 3 problem solving styles?
problem avoiders, problem solvers, problem seekers
What is systematic thinking?
Step-by-step - rational and analytical approach
what is intuitive thinking?
flexible and spontaneous approach
What is the difference between sensation feelers and intuitive feelers?
sensation = like facts and feelings intuitive = thoughtful and flexible
What are the 3 problem solving environments?
certain, risk, and uncertain
What is a certain environment?
low risk failure and outcomes are known
what is a risk environment?
views outcomes in terms of probabilities and middle risk of failure
What is an uncertain environment ?
doesn’t know outcomes and high risk of failure
What is step 1 of the decision making process?
Identify and define problem
What is step 2 of the decision making process?
Generate and evaluate alternatives - who are the stake holders and how will it affect them?
What is step 3 of the decision making process?
Decide on a preferred course of action
What does the classical model focus on?
a structured problem
What does the behavioral model focus on?
a unstructured problem
What is rationality?
acts in a perfect world
What is bounded rationality?
acts with cognitive limitations
what is a satisficing decision?
Choose first satisfactory alternative
What is step 4 of the decision making process?
implement the decision
What is step 5 of the decision making process?
evaluate results
How do we check the ethics of a decision?
utility, rights, justice, caring
does it satisfy all stakeholders? Are rights respected? is it fair? Does it show consideration for others?
What is creative decision making?
generation of a novel idea that solves a problem
what is big C?
extraordinary things are done by exceptional people
What is little C?
average people come up with unique ways to deal with situations
Why is decision making in groups important?
Results in greater job satisfaction and involvement within the organization
What are the 2 common group decision techniques?
brainstorming and nominal group technique
What is the nominal group technique?
highly structured agenda to restrict interpersonal communication during decision-making process
What are decision making errors?
intuition, emotion, framing, availability bias, confirmation error, anchoring error
What is heuristic?
Simplify decision making when time or information are scarce - trail and error or rule of thumb
What are the 6 rules for crisis decision making?
- what is going on?
- speed matters
- slow counts too
- danger of unfamiliar
- value the skeptic
- be ready to “fight fire w fire”
What is conformation error?
ignore bad side of things
what is an escalation of commitment?
at some point you have to quit if you are failing
What errors do we see in decision making?
don’t always analyze whole situation when time is scarce or there is pressure
