Term
| What are the three types of Decision Making? |
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Definition
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Term
| What is Risk decision making? |
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Definition
Lack certainty but can assign probability of occurrence
Statistical or personal intuition
Most common |
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Term
| What is certain decision making? |
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Definition
| Sufficient information to predict results of each alternative before implementation |
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Term
| What is uncertain decision making? |
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Definition
Too little information to assign probability
Creativity needed in problem solving
Rapidly changing environment |
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Term
| What is Rational/ Classical Decision theory? |
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Definition
Views decision maker as acting in a world of complete certainty
Problem: May not fit well in a chaotic world |
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Term
| What is Behavioral decision theory? |
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Definition
Decision maker acts only in terms of what he perceives about a given situation
Much more practical and common |
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Term
| What is Garbage Can Model? |
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Definition
| Views problems, solutions, participants, and choice situations as mixed together in the “garbage can” of the organization |
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Term
| What is Intuition Decision making? |
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Definition
| Ability to know or recognize quickly and readily the possibilities of a given situation |
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Term
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Definition
Confirmation trap- Tendency to seek confirmation for what is already thought to be true and not search for disconfirming information
AND
Hindsight trap- Tendency to overestimate the degree to which an event that has already taken place could have been predicted |
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Term
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Definition
The process of choosing a course of action to deal with a problem or opportunity
Identifying and solving problems |
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Term
| What are some problems with Decision making? |
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Definition
Managers often copy others’ choices and try to sell them to subordinates
Managers tend to emphasize problems and solutions rather than successful implementation
Managers use participation too infrequently |
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Term
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Definition
| System that stores, protects, processes, transmits, and retrieves information |
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Term
| Whate are the goals of IT? |
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Definition
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Term
| What is escolading commitment? |
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Definition
| Keep funding a bad decision |
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Term
| What is the difference between the CTO and the CIO? |
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Definition
the CTO is focused on infostructure
THe CIO visualizes how info can be used/ supports the company |
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Term
| What is teh management Science approach? |
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Definition
| Is the analog to the Rational approach by individual managers |
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Term
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Definition
| An agreement amoung managers about an organizational goals and problem priorities |
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Term
| What is the Carnegie Model? |
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Definition
| Uncertainty, Conflict between managers' goals, Coalition Formation, Search, and Satisfying |
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Term
| What is Incremental Decision making process? |
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Definition
| Identification phase, Developement Phase, and Selection phase |
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Term
| What is Problem Consensus? |
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Definition
| Agreement amoung managers about a nature of a problem |
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Term
| What is the first form of technology? |
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Definition
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Term
| When was the term technology first used? |
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Definition
| Term first coined in 1958: Harvard Business |
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Term
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Definition
| to take apart and study its components |
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Term
| What is the productivity paradox? |
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Definition
| Since so much money is being put into IT, why isnt the output as high, yet people still put so much money into IT. It is because there is a lag in the system. |
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