Flashcards in Section 4 Deck (5)
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1
What does “defining problems by solutions” mean?
e.g., “the problem is that we
need more control over our suppliers”
2
What are the differences between optimizing and satisficing?
optimizing- the max benefits
satisfying-just good enough
3
What does Framing mean?
Tendency to evaluate risk differently depending on how a decision is presented (or framed).
Is the glass half full or half empty?
4
What are the ways to reduce escalation of commitment?
- Separate initial decision-makers from decision evaluators
- Shift focus of attention
- Give positive feedback judiciously
- Hold people accountable for decision processes, not outcomes
5
