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chaper 3 words

managment

Decision-making process a set of eight steps that includes identifying a problem, selecting a solution, and evaluating the effectiveness of the solution
problem a discrepancy between an existing and a desired state of affairs.
decision criteria factors that are relevant in a decision.
decision implementation putting a decision into action.
heuristics judgmental shortcuts or "rules of thumb" used to simplify decision making.
rational decision making describes choices that are consistent and value-maximizing within specified constraints.
bounded rationality making decisions that are rational within the limits of a manager's ability to process info.
satisfice accepting solutions that are "good enough."
escalation of commitment an increased commitment to a previous decision despite evidence that it may have been a poor decision.
intuitive decision making making decisions in the basis of experience, feeling, and accumulated judgment.
structured problem a straightforward, familiar, and easily defined problem.
unstructured problem a problem that is new or unusual for which info in ambiguous or incomplete.
programmed decision a repetitive decision that can be handled using a routine approach.
procedure a series of interrelated, sequential steps used to respond to a structural problem.
rule an explicit statement that tells employees what can or cannot be done.
policy a guideline for making decisions.
non programmed decision a unique and nonrecurring decision that requires a custom-made solution.
certainty a situation in which a decision maker can make accurate decisions because all outcomes are known.
risk a situation in which a decision maker is able to estimate the likelihood of certain outcomes.
uncertainty a situation in which a decision maker has neither certainty nor reasonable probability estimates available.
groupthink when a group exerts extensive pressure on an individual to withhold his or her different views in order to appear to be in agreement.
brainstorming an idea-generating process that encourages alternatives while withholding criticism.
nominal group technique a decision-making technique in which group members are physically present but operate independently.
electronic meeting a type of nominal group technique in which participants are linked by computer.
ringisei Japanese consensus-forming group decisions.
creativity the ability to produce novel and useful ideas.
Created by: marionflores
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