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262-ch 9 definitions

decision making, creativity & ethics

decision the choice made from two or more alternatives
problem a discrepancy between some current state of affairs and some desired state
opportunity an occasion that gives rise to thoughts about new ways of proceeding
rational refers to choices that are consistent and value-maximizing within specified constraints
rational decision-making a six-step decision-making model that describes how individuals should behave in order to maximize some outcome
bounded rationality limitations on a person's ability to interpret, process, and act on information
satisfice to provide a solution that is both satisfactory and sufficient
intuitive decision making a non-conscious decision-making process created our of a person's many experiences
overconfidence bias error in judgment that arises from being far too optimistic about one's own performance
anchoring bias a tendency to fixate on initial information and fail to adequately adjust for subsequent information
confirmations bias the tendency to seek out information that reaffirms past choices and to discount information that contradicts past judgments
availability bias the tendency for people to base their judgments on information that is readily available to them rather than on complete data
escalation of commitment increased commitment to a previous decision despite clear evidence suggesting that decision may have been incorrect
randomness error the tendency of individuals to believe that they can predict the outcome of random events
risk aversion the tendency to prefer a sure gain of a moderate amount over a riskier outcome, even if the riskier outcome might have a higher expected payoff
hindsight bias the tendency to believe falsely, after the outcome of an event is actually known, that one could have accurately predicted that outcome
groupthink a phenomenon in which group pressures for conformity prevent the group from critically appraising unusual, minority, or unpopular views
groupshift a phenomenon in which the initial positions of individual group members become exaggerated because of the interactions of the group
interacting groups typical groups, in which members interact with each other face to face.
brainstorming an idea-generation process that specifically encourages any and all alternatives while withholding any criticism of those alternatives
nominal group technique a group decision-making method in which individual members meet fact to fact to pool their judgments in a systematic but independent fashion
electronic meeting a meeting in which members interact on computers, allowing for anonymity of comments and aggregation of votes
creativity the ability to produce novel and useful ideas
three-component model of creativity the proposition that individual creativity requires expertise, creative-thinking skills, and intrinsic task motivation
ethics the study of moral values or principles that guide our behaviour and inform us whether actions are right or wrong
utilitarianism a decision focused on outcomes or consequences that emphasizes the greatest good for the greatest number
whistle-blowers individuals who report unethical practices by their employers to outsiders
stages of moral development the developmental stages that explain a person's capacity to judge what is morally right
corporate social responsibility an organization's responsibility to consider the impact of its decisions on society
Created by: buad ok college
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