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Chap. 3 Vocabulario


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 Judmental 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 information
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 on the basis of experience, feelings, and accumulated judgment
Structured problem A straightforward, familiar, and easily defined problem
Unstructured problem A problem that is new or unusual for which information is ambiguous or incomplete
Programmed decision A repetitive decision that can be handled using a routine approach
Procedure A series of interrelated, sequenfial steps used to respond to a structured problem
Rule An ecplicit statement that tells employees what can or cannot be done
Policy A guideline for making decisions
Nonprogrammed 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 desicion 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 irder to appear to be in agreement
Brainstorming A idea-generating process that encourages alternatives while withholding critism
Nominal group technique A decision-making technique in which group members are physically present but operate independently
Electronice 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: ndelgado