Decision Making - Management & Leadership - Mrs. Ural

What is step one of the decision making process?

• Identifying a problem

• Identifying decision crtieria

• Allocating weights to criteria

• Developing alternatives

• Analyzing alternatives

How many decision making biases are there?

• 4

• 8

• 12

• 94

What is the definition of Decision Criteria?

• Factor that are important to resolving the problem.

• An obstacle that makes it difficult to achieve a desired goal or purpose.

What is a policy?

• A guideline for making decisions

• Dr. Ben Carson

• A discrepancy between an existing and desired condition

• Choices that are logical and consistent and maximize value

• Making decisions on the basis of experience, feelings, and accumulated judgement.

BONUS: Who is this character?

• Talking Tom

• Talking Ben

• Talking Sandra

• Talking Jerome

What is an example of Evaluating Decision Effectiveness?

• Talking Ben decided to reveal the brand new space rocket that will launch from Johnson Space Center.

• Amanda decides that durability height range, electronic controls, and customization arre the relevant criteria in her decision.

• A company manager reviewing sales data after launching a new product to assess whether the decision to launch a product was successful.

What is “E B Mgt” an abbreviation for?

• Eventual-Based Management

• Evil-Based Merit

• Enhanced-Based Morals

• Evidence-Based Management

How are policies and rules similar?

• They both help set the acceptable guidelines of decision making.

• Policies and rules both set the guidelines for ethical bias.

• Policies and rules are both useless.

What is the definition of sunk cost errors?

• Not forgetting that current actions cannot influence past events and relate only to future consequences.

• Forgetting that current actions cannot influence past events and relate only to future consequences.

• Not forgetting that current actions cannot influence future events and not relate only to future consequences.

• Forgetting that current actions can influence past events and relate only to future consequences.

“Choices that are logical and consistent and maximize” defines…?

• Irrational decision making

• Rational indecision making

• Rationally irrational decision making

• Rational decision making