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The strategic decision for Microsoft that will be discussed in the decision to proceed with Windows 8. Launching a new version of a flagship product is always a big decision, and this was no exception. Windows 8 represented a major overhaul of the company's signature product, redesigning the interface in particular with the objective of having it work across multiple technologies (i.e. tablets, laptops) rather than segregating different versions of Windows for different devices, as was the case in the past. This decision made the Windows experience perhaps better for the casual user, but has caused no end of frustration for the power user who uses Windows for work. There are few competitors, but at the same time the strategic decision to court the consumer looking for cat videos has created an opportunity for competition to emerge for the enterprise user.
Now, the author does not sit in…… [Read More]
This analysis points to the need to make some merchandise changes, and get our branding allowed with a high level. This takes us away from the major competitors who are beating us, something of a blue ocean strategy (Investopedia, 2014) that allows us to carve out a niche for our business that plays to our strengths. We are good at selling clothes to women at premium prices, and that is our brand image as well. This strategy essentially doubles down on that, whereas the other options all force us to do new things and learn new skills. This option allows us to do what we have always done, but more intensely and with more focus than before.
Implementation therefore will begin with rebranding and merchandising, ensuring that all of our products are high end, differentiated from these competitors. We will need to ensure that we fully understand this market, since…… [Read More]
The concept of bounded ethicality raises the possibility that Madoff in fact did not understand that what he was doing was unethical. As an experience hedge fund manager, a rational-thinking Madoff had all the tools to understand the ethics of what he was doing, but bounded ethicality suggests that he may have not fully been able to process the situation. One bound could be a myopic vision of his own wealth, that this was the most important thing and nothing else really needed to be taken into consideration. Another issue could well have been that he felt he was making money for the clients. A client ripped off today would be in a better position tomorrow, to earn some of those returns. Madoff therefore was unable to see the risky situation in which he was putting his clients.
Indeed, cognitive framing can put a person in a position where they…… [Read More]
Decision Making, Impulse Control, And Cognitive Development
Cognitive development entails the development in children with respect to processing of information, conceptual resources, skills in perception, learning the language and development of the brain. Piaget and Vygotsky advance theories explain cognitive development in children. These theories are similar in some aspects, yet they still differ about issues (Nakagaki, 2011). Piaget gives four stages to explain cognitive development whereby he advances that each stage brings new skills and methods of information processing. He argues that children have the innate ability to interact with the environment. Moreover, he adds that children adapt responses and incorporate new schemes for handling situations.
Vygotsky argues that cognitive development depends a lot on social interaction. Moreover, proximal development plays a role in development of cognitive skills. He argues that development is too complex to be dividing it into stages. These theories have similarities. For instance, both theories…… [Read More]
The two scenarios are likely to sway employees to provide false information if they are encouraged. However, the relationship had much strength in the positive. Therefore, in this study, there were clear choices. The participants were required to either tell the truth or lie. If things were easy for individuals in the world, lines of making moral decisions tend to be much fuzzier, however, the bottom line remains the same and rules. When making decisions, time to talk to someone or think is likely to assist individuals make decisions that are more ethically sound (Gunia, Wang, Huang, Wang & Murnighan, 2012).
Shin, S., J., Kim, T., Y., Lee, J., Y. & Bian. L. (2012). Cognitive team diversity and individual team member creativity: A cross-level interaction. Academy of Management Journal Volume: 55, Issue: 1, Pages: 197-212
A creative group work brings joy to a firm. Organizations must ensure that their teams…… [Read More]
Be a good example to him. Demonstrate to him good work habits and if possible show to him the incentives and rewards that I achieved from practicing professionalism at work. The advantage to this is that my fellow co-worker can have motivation at work. The disadvantage on the other hand is that he might have a wrong concept and ask the same incentives and rewards from the management despite of his sluggish performance at work.
From the given solutions, I would select the first one. I believe that with communication with the problem co-worker, he can be awaken of his problem.
A plan to implement my solutions step-by-step. I will first implement the best solution that I believe and if it doesn't work effectively, I will implement the next best solutions until I finally succeed in improving my co-worker's professionalism.
The work habit that my co-worker will demonstrate after implementing…… [Read More]
Then, they will have to offer training programs to their staff. Also, they will have to prospect the market and contract designers in order to identify the necessary features of the new line of cars. Finally, they will have to allocate sufficient financial resources for the implementation of their decisions. But what if the company does not possess these resources? They could get them by engaging in downsizing operations. They must then find a most suitable way to communicate the decision to the staff, must get their approval for the changes and must further motivate the remaining personnel to increase their efforts and sustain the organization in reaching its overall goals.
Deciders must have visionary minds in order to foresee the effects of the implemented strategies. Then, they must also support their decisions with not just vague estimates, but also with calculi, empirical evidence and the experience of other similar…… [Read More]
Decision Making Tool: Cost/Benefit Analysis
The decision making tool to be discussed is a cost/benefit analysis. A cost/benefit analysis generally is used within management to generate solutions to problems and help teams decide what course of action is best based on a set of established criteria. The solutions developed as a result of a cost benefit analysis may or may not prove worthwhile; however they do allow management the opportunity to decide whether or not it is 'worth' their time to invest money and effort into solving or addressing a specific problem or proposition (Mind Tool, 2004).
Cost/Benefit analyses are widely used in many different fields, primarily as a means to determine whether or not change needs to be implemented. The technique generally requires that management decide what the value of a particular change may be or what value a change may add to an organization. It is one of…… [Read More]
Decision Making and Organizational Culture Speech
hat is organizational culture? Basically, just like any culture, the organizational culture of a business or a nonprofit is the personality of the organization. Some personality types of organizational cultures has been identified as that of an "academy culture," where employees are highly skilled and tend to stay in the organization, while working their way up the ranks. In contrast, a "baseball team" type of organizational culture is one where employees are free agents in a fast-paced, high-risk environment. (McNamara, 1999)
Another kind of organizational culture has been defined as a "clubby" organizational culture, where the most important requirement for employees is to fit into a group, versus a "fortress" organizational culture where are many opportunities for those with timely, specialized skills n a highly competitive environment. (McNamara, 1999) The fit of the culture to the personality employees and the nature business will determine…… [Read More]
SWOT analysis is very instrumental at this stage. One can also employ the use of well structured questionnaires so as to achieve broader and a deeper scrutiny of a problem or situation.
d). Developing options
At this stage one should come up with several probable options to the solution of a problem. Creativity is of essence here since it will help narrow down to the fewer most probable decision options. As the brands manager, I will have to look at the options of repackaging, re-branding, re-labeling, shifting the market focus, changing the product and so many other options that may be on the desk for consideration. At this stage I will use my creativity to close out some options that are further from the solution and concentrate on those that are close to the solution.
e). Evaluating alternatives
Once the alternatives have been narrowed down, then the fewer most probable…… [Read More]
isk management, although is not essential for Chinese negotiation is also related to the use of intermediaries. Therefore, until the negotiation is done with the most important people to have connections with the issue at hand, there are numerous discussions and negotiation meetings with intermediary people. This is also a technique to reduce surprises at the table of negotiation.
The Japanese risk management system is very peculiar because, as its Asian neighbors, the Japanese rarely take risks. They are very calculated negotiators. The politeness which is often misread, most of the times fails to betray any type of emotion or body language fault. In terms of decisions to be taken, "consistent with the culture-based value of maintaining harmony, the Japanese are likely to be evasive or even leave the room rather than give a direct negative answer. Fundamental to the Japanese culture is a concern for the welfare of the…… [Read More]
Once Karmen has this information, it would be prudent to straw poll all other members of the Board so they are prepared for the issue. Regardless of the individual views, Karmen must act in a fair and reasonable manner -- he must exhibit leadership that deals with the issue, not the person, making it quite clear that rules apply to everyone, Hobson included. To let an ethical breach occur and ignore it because the person at fault is vocal and disagreeable allows behavior to exist because it is uncomfortable to remedy it.
If there is no clause in the by-laws, then Karmen should institute steps to introduce such verbiage and have the by-laws rewritten. In any case, at the next meeting he should introduce the situation to Hobson in a calm and reasonable manner indicating that while they all have individual opinions, as elected officials, they have a greater responsibility…… [Read More]
Decision Making Model
Decision making is an important everyday activity which can have far-reaching implications on personal and business matters. People face challenging situations often that require them to make decisions. These decisions usually follow a pattern that has something to do with an individual's personal values and beliefs. Ethical decision making model is one of the most commonly used models today because it takes into account the interests of others. There are some important steps involved in making an ethical decision. These steps begin with identifying the problem, the issues involved, ethical perspective on it, possible solutions and identifying the best solution.
The Josephson Institute of Ethics gives a model of decision making which involves three key steps. This model states that ethical decisions must be based on the golden rule of "Do unto others as you would have them do unto you." (Smith) The model expects people to…… [Read More]
Personal Decision-Making: Deciding to Accept a New Job Offer or Not
Having worked for the same company for over eight years and not having seen a raise in five of those years, it was time to consider options for a new job. The possibility of advancing my career, earning more salary, getting greater levels of professional recognition and learning more in an expanded role in a new company all were the benefits of moving on. The downside was that I had become so engrained in the company I was a member of, and had won performance awards several times, that my role was stable and secure and I would be letting that go. I'd been put onto projects that were going to last for at least three years. While many in the U.S. And global economies searched for security, stability and trust with employers, I had worked my…… [Read More]
Deciding Whether to Accept a New Career Position or Not
I've been working for the same employer for eight years and have only received one raise. The company is good about providing bonuses and I have an exceptionally high level of freedom, yet I am interested in moving further ahead in my career, earning a higher salary, and getting into a company who has opportunities for advancements. I'd also like to gain greater recognition for the hard work I do and my unique skills in marketing, sales and management.
The dilemma of my decision began when I received a call from a firm in the same industry as the company I work. This firm is very well-known and is a global provider of computing services and IT, and the recruiter contacting me was interviewing for a senior position that would include a significant jump in responsibility and pay.…… [Read More]
Mind Map Concept Decision Making
Decision making is a process of identifying and choosing the best option among all the available alternatives in a given situation. The purpose of making decision in a particular context is to select an option that can bring the most desirable outcomes for the decision maker or for the people or groups that have a stake in those outcomes (Hardman, 2009). A decision can be as easy as accepting or declining a simple proposal and as complex as planning a strategic investment in a business. Decision making is a cognitive process in which the decision maker has to actively respond to the external environment and evaluate all the alternative choices in order to make an effective decision (Bernstein, 2011).
There are six major concepts that are generally associated with all types of decision making phenomena or processes. These concepts are:
Available…… [Read More]
The ole of Experience in Decisions
Ever find yourself fretting over the results of a decision, which with hindsight was the wrong one? Well fret not, cognitive scientists have been investigating common missteps in the decision making process for decades and providing interesting insights. This field of research has become divided into two main areas; decision errors associated with thinking too little or too much. Whether these errors are a reflection of the actual neurological correlates underlying the decision-making process is unknown, but this division does seem to represent differences in cognitive processes. However, Ariely and Norton (2011) argue that this distinction may be less a reflection of cognitive divisions than an artifact of research study design, and that a continuum of decision-making may be a more accurate intellectual framework for understanding these findings.
The ole of Experience
Ariely and Norton (2011) describe decision-making from several different perspectives. They…… [Read More]
As the owner of a small grocery store, it has come to my attention that current business has been slow, and therefore, requires me to let go two employees of my total staff of four. By cutting my staff by half, this means that I would take on extra hours, as would another employee that I feel can handle the work-load, and can be trusted in taking on the extra hours per week.
In order to decide on which employee I decide to keep on, I need to weigh the different factors that besides including the personality of the individual, involve past work history, reliability, customer service and their individual needs. Utilizing these criteria, I can come up with scenarios, and alternative scenarios to make a decision that I see as being the absolute certainty to my problem. By using certain decision making tools, such as Simulation and…… [Read More]
Ethics is a philosophical term derived from the Greek word "ethos," meaning character or custom (Sims, 1994, p. 16). Ethics, therefore, is not just an ethereal concept belonging to the domain of philosophers and theologists, but a universal phenomenon that pervades the very functioning of individuals and society. Indeed, ethics can be said to be the guiding set of principles, based on which individual character, social and organizational custom is built. This is evident from the fact that family and social institutions begin inculcating ethical behavior into an individual from the time he or she begins to develop cognitive skills as an infant. Similarly, an organization inducts a new employee into the company's ethos and methods of conducting business. Thus, it is not surprising that cultural, personal, and organizational values influence decision making in an individual's personal and professional life.
The relationship that personal and organizational values have…… [Read More]
Decision Making Model
An individual's life, it is often said, is nothing but a reflection of choices that were made. Thus, individuals who make well-thought out decisions are more likely to feel content and fulfilled, whereas individuals who are driven by impulse often end up taking many a wrong turn in life. The preceding observation is especially true of decisions that are made at critical junctures of a person's life such as his or her choice of career. I, recently, had occasion to become highly sensitized to this fact when I was faced with a decision pertaining to my current career with the Navy. Although there were several aspects to my job with the Navy that afford a feeling of contentment, I had begun wondering if I could, in fact, lead a more fulfilling life through a career in business management in a multinational firm.
Since I was…… [Read More]
Decision Making at Chesapeake Energy Corporation
Chesapeake Energy Corporation is founded by Aubrey K. McClendon and om L. Ward with an initial $50,000 investment.
Chesapeake completed its IPO at a split-adjusted price of $1.33 per share that valued the Company at $70 million and reduced McClendon's and Ward's common stock ownership position to just under 60% from 100%.
Chesapeake drilled a major deep gas discovery at Navasota River in the deep portion of the Giddings Field in exas. During the period 1994-1996, Chesapeake and its industry partners located almost two trillion cubic feet of new gas reserves using state-of-the-art horizontal drilling technology in the deep and highly pressured Austin Chalk formation in Giddings. As the Company's production and reserves grew dramatically, so did the Company's common stock price. During this three-year period, the stock price increased from $0.47 per share to $34.44 per share, making Chesapeake the number one performing…… [Read More]
Moral choice is a commitment to acting in a way considered to be either right or wrong. As a result, an ethical decision is concerned with less of what an individual knows and more about such an individual defiling what he/she considered her/himself to be. As a result, in moral choice-making, an individual will opt for the choice that promotes who they consider themself to be. There are, therefore, several ways to describe moral decisions; critical thinking, the divine command theory, relativism, and emotivism (Overberg, 2018). This paper is focused on critical thinking and, in particular, deductive and inductive reasoning to present my thoughts on the criticism of critical thinking, and offer criticisms on the idea that the best choices can be figured out through deductive and inductive reasoning.
Thoughts on criticism of critical thinking
I think that the criticisms of critical thinking are good general reasons…… [Read More]
In the case of Kava island issue, we shall reach the decision in the following manner.
White Hat / Hat #1:
This is where a person needs to consider all the available data on the issue at hand. For example we know that Kava is a land of richness. It is a place with multiple possibilities because it has a sizeable young population, is rich in petroleum, coffee, sugar and other such important items. It has people from diverse backgrounds who add to the richness of its culture and almost 15 languages are spoken in this area. But at the same time, the country is plagued with numerous problems including ever-increasing cases of HIV.
Red Hat / Hat #2:
This is where a person needs to focus on intuition. Intuitively for example we can say that Kava can be seen as a great tourist destination if developed properly. Nik's firm…… [Read More]
The dominant, goal-oriented person can focus on the ultimate objective, the influence-based person can examine the interpersonal dynamics of the decisions that must be made, the steady person can foster harmony and a positive atmosphere, and the conscientious person can stay on task in a reliable fashion. hile clashing personalities can thwart reaching positive and goal-directed solutions, they can create a better solution and check the excesses of one another, like the selfishness and refusal to consider the human element in the dominant personality, the disorganization of the influence-based person, the risk-adverse views of the steady person, and the rule-bound contentious type. Communication can be facilitated through email and other constant types of technological contact on a daily basis -- this can create better group bonding, although there is always a risk that the brevity and informality of the format can create rather than break down barriers.
Modern decision-making theory,…… [Read More]
Not even the most brilliant, ethical, and rational person has the ability to research every conceivable implication and alternative before making every decision in life.
Group decision-making is another method of decision-making, where the decision is often arrived at by consensus or committee, such as coming to a decision as to where to take a family vacation. The decision is often time-consuming, because ideally it must please everyone, although quite often no one is fully pleased (Petress, 2002). Multiple levels of irrationality are injected into the process, even if the 'team leader' (the parents who are paying for the vacation) have the final veto. To make the group decision-making process more efficient, often a vote is taken at the end of the discussion if the effort is supposed to be democratic. It can be superior to individual decision-making in that individuals can point out when group members are being irrational,…… [Read More]
Decision Making Model
Decision making is defined as the cognitive process of selecting a course of action from among multiple alternatives (Wikipedia, 2004). Effective decision making, however, is contingent on an individual or group's ability to select the course of action, which is most likely to result in goal or task accomplishment. In the business world, this is easier said than done since most decisions involve taking into consideration a myriad number of variables such as environmental factors, competitive activities, customer needs, internal goals and organizational constraints. Therefore, most organizations deem it advisable to use decision making support systems or models, which have been developed specifically to assist in the through analysis and evaluation of various alternative courses of action.
One such model is the Force Field Analysis. It is the objective of this paper to describe how the Force Field Analysis model helps weigh the pros and cons of…… [Read More]
Barnes and Noble Inc. is one of the most successful bookstores in the world. The company operates throughout the United States and boasts roomy inviting stores. In addition to books, the company also sells DVDs and music. The company operates both brick and mortar stores and it is also the largest internet bookstore. Furthermore, Barnes & Noble, Inc. is a Fortune 500 company and the largest bookseller in the world. In addition, "The company is a leading content, commerce and technology company that provides customers easy and convenient access to books, magazines, newspapers and other content across its multi-channel distribution platform. As of January 29, 2011, the company operates 705 retail bookstores in regional shopping malls, major strip centers and freestanding locations in 50 states, and 636 college bookstores serving nearly 4 million students and faculty members at colleges and universities across the United States (For Investors)." The…… [Read More]
decision making tool.
Forced Field Analysis: a decision making tool
In business applications, health care, or private life there arise many occasions when one is faced with making a major decision. Although many individuals face such instances with their wits alone, relying on his or her "gut feelings" to assist them in their quandary, many find that such an unscientific approach can lead them to the wrong action. Indeed, when one lacks a basic "tool" approach to decision making, the odds of coming to the correct or workable solution is significantly reduced in most circumstances. Having a method such as the "Forced Field Analysis" tool is extremely useful.
In simple terms, Forced Field Analysis involves identifying, compiling a list concerning, discussing and evaluating the possible "forces" in favor of as well as against a possible change or decision. In essence, the technique helps the decision maker see the true context…… [Read More]
The watch was designed to allow the wearer to log onto the Web. It had microchips capable of doing anything a laptop could do. So out it came. Problem was that you need a keyboard and monitor big enough to see and use. The Web watch, amazingly, had neither. You had to hook it up to a PC to use it! Swatch introduced it too soon due to its enthusiasm over the technology. Perhaps they should have procrastinated (Matlack, 2000).
Chrysler and General Motors. Their procrastination, greed and laziness in sticking to the big, expensive, gas-guzzlers when the foreign car market was moving elsewhere -- into the U.S. And profitability -- and the resultant loss of business, cancellation of dealerships, and layoffs of tens thousands of workers, has to be the worst business decision in modern history.
Matlack, C. (2000, September 11). ad timing for Swatch's web watch. Retrieved…… [Read More]
Anderson Children's Hospital (ACH) is an internationally known and recognized pediatric hospital that provides the full range of services from primary to critical care units, located in San Francisco, CA with affiliated care centers throughout the Bay Area. The board of directors at ACH would like to create a mobile-crisis program to be piloted in the City of San Francisco and eventually grow to service the entire Bay Area. The following sections present the process through which the Board of Directors is trying to navigate towards its final decision.
At the core of the following proposal is this 2-part question: Should ACH create a mobile crisis program to be piloted in the City of San Francisco for (up to) one year with the intent of expanding its funding, personnel, and service area over the next 3-5 years throughout the entire Bay Area and if…… [Read More]
In other words, throughout the transition period, Onetech would create efficiencies and would consolidate its position. In the future however, it is recommended that the company moved towards a strategy of diversification, as this would better satisfy customers' needs, attract them and as such create market power for the firm (Markides, 2007).
The decision making process at Onetech
The decision making process at Onetech is quite intricate, revealing both strengths, as well as weaknesses. Decisions are for instance made at the level of the board and are based on the expertise gathered by the various major players in the firm. Still, the decisions are made by the executives, with little emphasis on the input which could be provided by the employees.
In order to better assess the decision making process at Onetech, it is appropriate to analyze it through the lenses of the rational decision making model. This model consists…… [Read More]
My taxonomy of decision-making approaches will be based, somewhat loosely, on brain dominance theory combined with what I have seen in my experience. The underlying principle is that people are either analytical or emotional in their decision making. These are the two basic types, but within these there are differences as well. For example, rational decision-making can be purely statistical -- using the numbers to guide the process, or it can be more qualitative-rational. On the emotional side, decision making can be "gut," which is fairly reactive, or it can be based on past performance, so more of a "what has worked before."
In the middle is a hybrid, which relies on a heavy amount of analysis, before the final decision is based more on feel. There might not be a much academic support for this one, but I do it myself all the time. The use of gut…… [Read More]
he managers should also develop plans that refer to the human resources that must be included in their projects. his is because these projects usually require that certain experts are hired and involved in the project team. he effects of the projects must be carefully evaluated and presented to Childs.
3. hese projects are likely to provide important effects for the company, but they also require important resources. herefore, it is recommended that Childs takes these projects into consideration by allocating different levels of financial resources to their managers. However, the most important sum should be allocated to yler's project. his is because increasing the efficiency of the company's production flow is able to provide important effects on medium term and on long-term. his could help the company significantly improve its position on the market.
he project developed by Julie should also benefit from certain resources. his is because the…… [Read More]
For each cell, decide which of the two options is more important. Write down the letter of the more important option in the cell, and score the difference in importance from 0 (no difference) to 3 (major difference).
5. Finally, consolidate and sum the results by adding up the total of all the values for each of the options; and then convert these values into a percentage of the total score.
As a simple example, a business is looking at several ways to expand its market share. In doing so, it comes with the following options as shown below:
1. Use electronic commerce for serving customers
Expand business in home markets
3. Improve customer satisfaction
4. Improve the quality of service
Firstly the manager draws up the Paired Comparison Analysis table in Figure 1:
Figure 1: Example Paired Comparison Analysis Table (not filled in):
Use electronic commerce (a)
Expand into…… [Read More]
Decision making is a term that can be described as the process of choosing between alternatives and entails identification, development, and selection. Based on academic literature decision making and analysis can be widely divided into two schools of thoughts i.e. analytic and experiential or incremental decision making processes (Sipp & Carayannis, 2013, p.18). The analytic school of thought on decision making and analysis primarily focuses on problem definition and identification, assessment and selection of alternatives. In this school of thought, implementation in the decision making process basically entails simple execution of the cautiously selected alternative. On the contrary, even though experiential or incremental school of thought incorporates the two major steps in decision making just like the other school of thought, it focuses more on the execution of the alternative. This school of thought on decision making also utilize feedback to make necessary adjustments to the selected alternative in order…… [Read More]
The brainstorming approach: The Grubb & Ellis Company
In contrast to the City of Miami, the Grubb & Ellis Company, a commercial real estate advisory firm, uses the 'brainstorming' method of decision-making. A creative business such as Grubb & Ellis clearly believes it benefits from a decision-making model that encourages a 'free for all' of information. In this model, individuals write down, collectively or individually, every idea that comes to mind, good or bad. No censorship is allowed. Quite often, unique and off-beat solutions are generated through this method, and sometimes even the 'craziest' ideas can germinate practical solutions.
The only problem with the brainstorming model is that because it is so democratic, the organization can get bogged down debating an array of available alternatives, when a quick decision is required. Eventually, a solution must be arrived at, and the organization may find itself forced to shift to a more…… [Read More]
" To that end, the Treasury Department would limit executive compensation for institutions receiving "exceptional assistance" (Geithner and Summers, 2009).
Troubles continued in the financial sector -- both Citigroup and the Bank of America needed second rounds of capital infusions, and federal guarantees against losses totaling tens of billions more -- while Ben S. Bernanke, the Federal Reserve chairman, warned that more capital injections might be needed to further stabilize the financial system. On Jan. 16, the Senate voted 52-42 to release the second round of funds (Gerth, 2009).
THE GEITHNER PLANS -on Feb. 10, Mr. Geither presented the rough outlines of the Obama administration's plan. A central piece of the proposal would create one or more so-called bad banks that would rely on taxpayer and private money to purchase and hold banks' bad assets. Another centerpiece of the plan would stretch the last $350 billion that the Treasury has…… [Read More]
Therefore, decision makers evaluate only a reasonable number of alternatives and choose the best one from their comparisons (Kantrow, 1987).
A made a similar decision based on the rational decision making model. When recently, I decided to buy a car, I knew that I had a problem, since without using car it was taking many hours from work to the home. Therefore, I was able to identify the problem. In next step, I needed to decide which car to buy at an affordable price range. In this step, I evaluated several cars, along with their comfort level, rating, and price range. Though evaluating all of these cars took a long amount of time for me, as it required me to research the performance of several cars within the affordable price range. Finally, based on these evaluations, I was able to pick a car that I thought was the best on…… [Read More]
The most general critical thinking strategy involves the following steps, outlined by Cohen et al. (2000). First, we propose certain statements or hypotheses. For example, I have written down my thoughts at this stage in the decision-making process if I have too many ideas. Second, we need to think of or actively solicit counter-arguments. We need alternative explanations for our observations. So in my situation, I need to brainstorm all the possibilities for a discrepancy in pharmaceutical inventory. My hunch might seem outlandish to another person and vice-versa. Only when all ideas are on the table can the project proceed in a rational, systematic manner. The third step in the Cohen et al. (2000) model is to modify the original hypotheses to take the additional information into account.
According to Paul & Elder (2002), irrational decision-making is simply a "bad habit" (146). We can unlearn this bad habit by practicing…… [Read More]
Whenever a particular problem, situation, or choice is encountered, there are a number of different ways in which individuals and teams can go about trying to find solutions. Sometimes, problems are quite concrete and the required solutions present themselves fairly readily: when one is ungry, the solution is to eat, and if there is some food readily available, the problem is easily solved without a lot of high-order thinking. But what if food is not readily available, and money to purchase food is scarce? Now the problem takes on a greater complexity, and a series of decisions, trade-offs, and actions must be taken in order to solve the problem of hunger without creating other problems in other areas (e.g. problems with the law created by stealing food, not being able to pay rent because of the cost of food, etc.). When problems reach this level of complexity, simple…… [Read More]
According to Halpern (1996, p. 197), arguments that utilize irrelevant reasons are fairly common: "The Latin word for this sort of fallacy is non-sequitur, which literally translates to 'it doesn't follow.' In other words, the reason or premise is unrelated to the conclusion." Since relevant premises are a key criteria for building sound arguments, it follows that critical thinkers must learn to recognize and avoid such fallacies.
However, in the real world this is perhaps easier said than done since the use of force often tends to sway decisions in favor of the person who is making the threat, implied or otherwise. An example that comes readily to mind is the manner in which advertisers have coerced sports bodies to disallow ambush marketing: "It is important that any sports body has the right to control what is being brought into their events...to protect the millions of pounds of investment that…… [Read More]
As in any merger, the organization would have to deal with human resource issues (because the verification process was double-performed, one of the two teams needs to be reapplied within the organization), financial issues, etc.
The third option would be to create a sole compartment to deal with the verification process, a compartment that would employ human resource from both the ECFMG and the EICS. This compartment would deal only with the verification and would have several advantages. First of all, it would eliminate the original problem we had to deal with and, second of all, it would probably increase the efficiency of the compartment, with more employees and a better coordination.
In making the decision, we need to choose between deciding by majority rule and consensus building. In my opinion, in this particular case, it is best to build the appropriate consensus with all party involved. For additional information…… [Read More]
Facilitators Team, 12-06-02. Decision Making Model, The Team Handbook, pp.4-20 -- 4-25. Retrieved 9-16-05, from Facilitators Team. http://www.lib.umd.edu/groups/learning/Decision-MakingModel.pdf
Roberts, Rick, unknown. 7-Step Decision-Making Model. Retrieved 9-16-05, from University of North Florida.… [Read More]
Decision Making & Creativity, Power and Influence in the Workplace, and Leadership in Organizations
Creating a platform for leadership that is agile enough to respond quickly to unforeseen events, yet stable enough to ensure team and group solidary is one of the most challenging aspects of any leader's long-term growth. Coupled with the need for having a solid foundation of leadership skills including Emotional Intelligence (EI), situational awareness and transformational leadership (Purvanova, Bono, 2009) is the need for leaders to thoroughly understand power and influence not just in their departments but across their entire organization as well. The five dominant forms of organizational power, ranging from coercive, to reward, legitimate, referent expert and informational power, all must be orchestrated successfully by a manager if challenging, often time-constrained objectives are to be attained (Drea, Bruner, Hensel, 1993). This self-reflection analysis includes insights into specific types of power from the context of…… [Read More]
Approaches in decision making
Decision-making forms a very significant component of success at work, at the same time it can be the cause of failure if the conditions are wrong and if those involved are not on the same page. Confusion with regard to decision-making can cause conflict to teams, supervisors, managers, and team leaders. There are various decision-making approaches that can be adopted depending on the situations, these include: consensus, majority vote, minority (subcommittee), expert, authority with discussion, and authority without discussion (Eisenfuhr, 2011). This will describe the 'consensus' and 'expert' approaches of decision-making with respect to the scenario selected.
In the consensus or group decision-making approach, the manager becomes part of the team and involves everyone who is willing and ready to contribute in the decision-making process. The fact that the word consensus is used does not signify that all those involved fully agree with whatever decision…… [Read More]
decision making tools and techniques whereby 6 Thinking Hats has been chosen as one of its tools. This decision making tool is widely used in the business world of today.
Decision making in science and indeed any other field of study is a difficult thing and for this, one needs to understand what are the basic ways in which a decision can be arrived at, without wasting much time and using the best tools and techniques in order to achieve the same. These decisions are very crucial to the outcome of a project but certain things should be kept in mind that information is the single most significant thing in this whole process. Decision-making is indeed a very complex and well-developed area, one that has to be looked at by the researchers and lecturers with particular care. This paper is about the decision-making tools and techniques…… [Read More]
Decision Making Methodology
Decisions in business should be based on sound intuition and factual data. Oftentimes management has to make a judgment call of whether to evaluate from projections or from objective analysis of the circumstances. It is important for those in business to have proof to back the reasoning for making a decision which is sound and reasonable. According to Bazerman and Moore there are six main steps to making a sound decision this structure can be used for any problems requiring a resolution. The methodology is considered useful due to the fact that consistent results can be documented (Bazerman and Moore, 2005).
Identifying a business problem is the first step in the Bazerman and Moore decision model. A problem that recently presented itself in the workplace was related to tenants in the Wulvern housing complex.
Wulvern is part owner to a Senior Living Association that houses thousands…… [Read More]
To this end, synergy can be likened to economies of scope, whereby the quality of decisions reached goes up with the inclusion of more minds (Nelson & Quick, 2012). Information-sharing is based on the idea that every individual possesses some unique information besides that which is known by everyone (Nelson & Quick, 2012). When several individuals come together in a group, they consolidate these unique pieces of information, creating a more complete informational platform and consequently, a decision of high quality (Nelson & Quick, 2012).
Group decision making is not without its share of drawbacks; i) since the technique is built on consultations, it usually involves lengthy procedures that could be quite costly to the organization, ii) it could kill team spirit, especially if some members feel that they are being shortchanged, iii) decisions are largely influenced by members' relative statuses - in an academic group task, for instance, members…… [Read More]
Judgment in Managerial Decision Making
Linear Decision Making
Linear decision making works by looking at, essentially, a "straight line of choices" that involves picking one option even when the future options cannot be seen. This is important to consider, because it allows a person to address a potential issue in a way that requires careful thought. As the person moves down the line of choices, he or she has to decide each time whether to take the presented choice or whether to keep going on the chance that the next choice (or one further up the line) might actually be a better option (Albantakis & Deco, 2009). There is a certain level of risk in this type of decision making, because it is possible that the person will make a decision too soon in the process that will strongly impact the outcome. If the person would have waited, he or…… [Read More]
History tells us, evidently, that the worse a slump, the quicker the recovery because there's nowhere else to go but up. The rebounds from a bad economy were very strong. Now there's something to look forward to for those millions of Americans who can't put bread on the table for their kids.
ut, why is the stimulus not working all that well. In actuality, the government threw in around $800 billion for President Obama's Recover and Reinvestment Act of 2009. How could it not work? ecause it spent money on the wrong things. Remember when we were told all the wonderful new green investments it would allow to create thousands of jobs. And, do you recall how it would bring the U.S. transportation system up-to-date with highway and bridge repairs?
Pork. That's what happened, plus huge support for existing social programs which brought zero new jobs. The Wall Street Journal…… [Read More]
402). Moreover, Daly and ee (2006) suggest that the probability proportionate to size method is particularly useful for sampling educational institutions for ensuring that a representative sampling is achieved. Therefore, Ms. Smith would assign larger colleges with higher enrollment rates a greater chance of being selected for her visits and correspondingly lower chances to smaller colleges with lower enrollments. In order to reduce the uncertainty involved and maximize the chances of each student having an equal opportunity of being selected for interview, this step is achieved by adjusting the probability of selecting a college during the initial stages of college selection based on the proportion of all students in the general population who are enrolled at the college. As a result, a college that had 40,000 students enrolled in its computer science program would be 100 times more likely to be selected by Ms. Smith than a smaller college with…… [Read More]
Collaborative Decision Making Through Share Governance
I attended a committee meeting at a local school. The committee was formed in order to come up with a proposal on how they could improve the performance of the school. Those who attended the meeting were supposed to see to it that they come up with a proposal on how the performance of the students could be improved. I was quite keen on how the committee members interacted and the process the committee used to arrive at their decisions.
I observed that the committee used both managerial level and group levels in the decision making process. First of all I observe that there were proposals from the management that were forwarded to the committee members. The management of the school had come up with their own measures that would be taken to ensure that the performance of the school would be improved. This…… [Read More]
Administrative model is defined as "a decision-making model that describes how managers actually make decisions in situations characterized by nonprogrammed decisions, uncertainty, and ambiguity" (Daft 1999, p. 284). This approach to decision-making recognizes that not all decisions are able to be considered and judged based on quantitative methods. While it may be preferred that decisions be made by a process where the outcomes are known and can be compared, it is not always possible to know the outcomes. For these types of decisions, a new kind of model is needed that takes into account the uncertainty. This model is the administrative model.
Herbert A. Simon is the founder of the administrative model. He considered the economic model of decision-making and noted that one major element was missing. This element was the human element. Taking the human element into consideration, Simon rejected the idea that people make decisions based on rational…… [Read More]
decision making best exemplifies what happened on the Deepwater Horizon rig?
The basic model that was used in the Deepwater Horizon accident was the bounded rational decision making approach. This is when everyone inside the organization will be focused on selecting options that work well within their current circumstances. The problem is that these individuals are not selecting an approach, which is in the best interests of everyone. Instead, there is an obsession in meeting short-term objectives at all costs. In the case of the Deepwater Horizon, everyone was ignoring obvious signs that the well was about to explode. The biggest reason why is managers were focused on meeting the productivity goals of the company at all costs. ("What are ational Models," 2012)
Which of the decision- making biases played a potential role in the disaster?
The kind of decision making biases that were occurring prior the Deepwater Horizon incident…… [Read More]
General Motors and the United Auto Workers Labor Agreement
Judgment in Managerial Decision making
General Motors and the United Auto Workers have been among the America's largest manufacturers of motor vehicles and related parts. Following pressure of the two leading manufacturers going bankrupt they had to negotiate a change in the labor agreement as an urgent move. The workers and the communities are to be adversely affected by this part of restructuring.
Some of the decisions reached during the negotiation affected the workers negatively in as much as they were mainly to prevent the collapse of the two manufacturers. General Motors reached a decision to close or idle 17 of its facilities, where Chrysler was to close eight plants. The GM seeks to reduce its 60,000 strong UAW workforce by up to 20,000. On the top of that Chrysler is to reduce positions because of the plant closures, however the…… [Read More]
Employees and business management personal are taught business ethics as a fundamental guideline. It is tasked with assigning a particular meaning and role to business on the whole. Taking ethical decisions entails keeping certain aspects in mind. Written below is a brief argument on the points regarding ethics and a scenario is setup where business ethics are employed.
In layman words, business ethics entails working within reasonable means in a financial environment. Some particular aspects are required to achieve that (Brusseau). The decisions are guided by principles, comprehending the facts, making a valid argument and lastly ethics basically entails discerning between right and wrong (Brusseau). The overall result is secondary to the process at hand. The end result consists of constructing and making valid arguments. Hence, business ethics isn't really brainwashing. It's just fine tuning. The conclusions are formed from transparent values, confirmed facts and viable arguments (Brusseau).
Keeping…… [Read More]
This section analyzes the farm data of the Department of Agriculture and explores the relationship between the total number of the U.S. farms (x) and average farm size (y). The paper carries out the regression analysis for the interpretation. From the analysis, the average farm size (y) is the dependent variable and U.S. farms (x) is the independent variable. The paper uses the following equation to determine the relationship between y (dependent variable) and x (the independent variable):
y =bx +a
The summary output of the regression analysis is as follows:
Number…… [Read More]
Paradox: The Art of Political Decision-Making and Social Equity and Public Administration: Origins, Developments, and Applications
It is safe to say that both books have what could be termed "a liberal inclination" in that both Stone and Frederickson see their theories as people-centered, with all their attendant frailties and mistakes. Ironically, Stone makes much the same critique that some conservatives would, in that trust in "rational" decision-making leads to bad decisions, because economics doesn't explain policy. As a result, economics shouldn't dictate policy, because the reality is often very different -- and statistics, as it is often said, consists of lies, damn lies, and statistics.
This reminds me of an article I read in the New York Times, recently about the people who rise to the top in a meritocracy are somewhat righteously arrogant, having achieved a great deal. As Ross Douthat said in the New York Times, "meritocrats &…… [Read More]
eview of Making a Business Decision
Decision making is an unavoidable part of business. Smaller decisions where there is a lower perceived cost associated with making the wrong decision are psychologically easer compared to important decisions where a wrong choice could incur high costs. A recent example of a decision involved selecting an employee for an internal promotion. The position of team leader had become available for one of following the resignation of the incumbent team leader. The position was important for the team, and the department, as the team leader is key in managing the team from a practical perspective and ensuring that targets for the team would be met, as well as playing an important motivational role. The performance of the department was reliant on performance of each team, so the appointment was also important for the department I managed. The decision was important from the perspective…… [Read More]
As the general contractor of a medium size, one of the most important decision points in construction is a go no-go decision. Go no-go decisions have become common in the modern construction industry because of the changing marketplace that has in turn generated complex procurement choices. In light of the changing marketplace in the construction industry, construction companies face new challenges in identifying the most suitable project proposals to adopt and develop vetting measures that help in making the appropriate go no-go decision (Illia & ubin, 2014). Despite the complexities of such decisions, go no-go decisions remain very crucial choices in this sector because of their significance in weighing costs for the most appropriate project fit.
Contractors need to conduct a go no-go analysis in order to determine the best project fit depending on project specifications and needs. The analysis helps in several aspects including serving as a process…… [Read More]