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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. |