Term
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Definition
1.Recognize problem and need for decision
2.Identify the objective of decision
3.Gather/evaluate data and diagnose situation
4.List/evaluate alternatives
5.select best course of action
6. implement decision
7.gather feedback
8.follow up |
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Term
| Rational Model (not realistic) |
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Definition
-decision make is aware of all details
-can calculate probability of success |
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Term
| Bounded Rationality (realistic) |
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Definition
| managers select the first alternative that is satisfactory without determining all the other alternatives |
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Term
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Definition
| examines facts and details, generates alternatives, analyzes the alternatives objectively, and weighs the impact. |
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Term
| Escalation of commitment: what is it? |
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Definition
| tendency to continue to commit resources to a failing course of action |
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Term
| Escalation of commitment: why does it occur? |
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Definition
| People dislike inconsistency and have sunk costs, which is the perception that we have invested too much to quit |
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Term
| Escalation of commitment: how to deal with it? |
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Definition
| split responsibility for decisions, provide individual with a graceful exit, and have groups make initial decision |
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Term
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Definition
| risk takers accept greater potential for loss and tolerate greater uncertainty and are more likely to make risky decisions |
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Term
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Definition
| for creative grain function |
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Term
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Definition
| for logic, detain, and planning |
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Term
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Definition
| fast method for gathering data that is used at a level below consciousness |
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Term
| What role does culture play in decision making? |
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Definition
| countries with high uncertainty avoidance accept situations as they are better and diverse top management teams have higher performance |
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Term
| Advantages of Group Decision Making |
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Definition
| more knowledge through pooling resources, increased acceptance and commitment, greater understanding |
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Term
| Disadvantages of Group Decision making |
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Definition
| pressure to conform, domination by one forceful member,amount of time required |
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Term
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Definition
| make decisions once reserved for managers |
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Term
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Definition
| debate between two opposing sets of recommendations |
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Term
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Definition
| deliberately finds flaws and be critical |
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Term
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Definition
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Term
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Definition
| write list ideas and group votes |
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Term
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Definition
| generate ideas without criticism |
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Term
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Definition
| positive force that occurs in groups when they influence and encourage each other |
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Term
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Definition
| simple rules used to determine final group decisions (majority wins,2/3 vote, etc. |
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Term
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Definition
| deterioration of mental efficiency and moral judgement resulting from in group pressures. no outside help |
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Term
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Definition
| tendency for group discussion to produce shifts toward more extreme attitudes among members. |
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Term
| How to avoid groupthink and group polarization |
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Definition
| help leaders to avoid stating their opinion prior to group decision, create subgroups, appoint devils advocate |
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Term
| Participative decision making |
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Definition
| occurs when individuals who are affected by decisions influence decision making |
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