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Kari Bareham
Chapter 3 - Management
Question | Answer |
---|---|
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 on 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 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 judgement. |
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, sequential steps used to respond to a structured problem. |
Rule | An explicit 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 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 an 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 a computer. |
Ringisei | Japanese consensus - forming group decisions. |
Creativity | The ability to produce novel and useful ideas. |