Management Question
I provide you a link to the textbook so you could use it for the research, Decision Making is chapter 6.
The textbook, Organizational Behavior, is freely available online at:
https://openstax.org/details/
Description :
We like to think that decisions should be, and are, made using a rational process. As described in Chapter Six, issues are defined, alternatives are generated, criteria for evaluating these alternatives are developed, and the alternatives are evaluated against these criteria. Pros and cons of each alternative are generated and considered. In human resource management, the process that should be used when evaluating candidates for a job is described in this fashion. (See Table 17.2)
In reality, many decisions are made in much less rational manner. Chapter Six describes some biases in decision-making, and people often use heuristics to try and narrow down choices. The chapter provides many examples of challenges in making decisions, including a table with some logical fallacies. (A “less than scientific” list of many potential biases and fallacies is available in Wikipedia ( https://en.wikipedia.org/
For this paper, focus on one “significant” decision you have made in your life. It could be regarding a job, where to attend college, what major to study, who to marry (or not), or involve a major purchase. Look back on that decision and reflect on how rationally, or irrationally, the decision was made. Identify the biases and heuristics that may have influenced the decision, and describe their impact. Finally, describe whether you believe the final decision, however flawed the process, was a good one or not.
Answer preview
Leaders in an organization encounter challenging scenarios requiring strategic decision-making. They have to establish boundaries, develop rules, identify how to terminate employment in an ethical approach, and progress the organization. While making these decisions, these leaders may apply cognitive biases or heuristics to maneuver some of the challenging choices they have to make. These cognitive biases vary with notable examples like the IKEA effect, confirmation bias, the framing effect, gender bias, and selection bias, among others. However, it is worth noting that these biases affect the decision-making process that requires rationality and input from the identified stakeholders. While focusing on the “IKEA effect, this influenced one significant decision I had to make of disposing of home-based office furniture I had purchased.
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