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20200411165950decision Making Ppt

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Decision Making AGENDA: ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ Overcoming bias Awareness of boundaries Awareness of framing Motivation in decision-making Emotions in decision-making Fairness and ethics Investments Negotiations The six issues in negotiator cognition Improving Decision-Making 2 Introduction: Decision-Making: ❑ Choosing one alternative from among several. ❑ Psychological—may be influenced by other factors. ❑ Actions are guided by a goal. ❑ Made by an individual, or group.. Unit I | Introduction to Decision-Making 3 Categories of Decisions: ❑ Strategic Decisions ❑ Aligned with the organization’s goal. ❑ Tactical Decisions ❑ Implementation of strategic decisions. ❑ Operational Decisions ❑ Day-to-day decisions made by direct operational support. Unit I | Introduction to Decision-Making 4 How Decisions Are Evaluated Being efficient is: Doing this faster & cheaper. Being effective is: Doing work that has impact and gets results. ✋ Judgmental Heuristics Straightforward rules of thumb. ✋ Overconfidence May be the “mother of all biases”. Unit I | Introduction to Decision-Making 5 Overcoming Bias in Decision-Making The Process of Rational Decision-Making Decision Criteria Selecting Alternatives Analyzing Alternatives Decision Feedback Prejudice in favor, or against one thing. The Three General Heuristics ❑ Availability Heuristic Unit II | Overcoming Bias in Decision-Making ❑ Representativeness Heuristic ...
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