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262-ch 9 definitions
decision making, creativity & ethics
| Term | Definition |
|---|---|
| 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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