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MGMT 3301 Ch. 3
Transcript of MGMT 3301 Ch. 3
Dr. Laura Guerrero
What is a decision?
Why do we say that managers are decision makers?
Isn’t everyone a decision maker?
(1) problem solving
(2) knowledge workers
(3) technological competency
(4) information competency
(5) analytical competency
Performance threats and opportunities
what are these?
Types of managers in terms of problem solving
Types of decisions
Problem solving approaches (systematic v. intuitive)
Problem solving environments – give examples of each type of environment
Explain steps in decision making process
(1) identify problem
(2) generate and evaluate alternatives
(3) decide on course of action
(4) implement decision
(5) evaluate results
Classical vs. Behavioral models of decision making
Why should decision making consider ethics?
What is creativity? Is creativity desirable?
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
What are the pros/cons of group decision making?
Explain and give examples
DECISION MAKING ERRORS
(1) availability heuristic
(2) representativeness heuristic
(3) anchoring and adjustment heuristic
(4) framing error
(4) confirmation error
(5) escalating commitment
What is a crisis?
How is decision making in a crisis different?
What is the difference between a programmed decision and a non-programmed decision?
What assumption do we make when making a programmed decision?
A word about cognitive styles
(not strongly supported by evidence)
Hot Topic - Bye bye telecommuting
Answer the questions in the book
Online students: skip this one