Week 7: Decision Making, Creativity, Learning from Action Flashcards by Karen Campos

Flashcards in Week 7: Decision Making, Creativity, Learning from Action Deck (9)

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Decision Making

A conscious process of making choices among alternatives with the intention of moving toward some desired state of affairs

Rational Choice Paradigm

A deeply held perspective of decision making that people should - and typically do - make decisions based on pure logic and rationality

Rational Choice Decision-Making Process

1. Identify problem or opportunity
2. Choose the best decision process
3. Develop alternative solutions
4. Choose the best alternative
5. Implement the selected alternative
6. Evaluate decision outcomes

Bounded Rationality

Processing limited and imperfect information and satisficing rather than maximizing when choosing between alternatives

Implicit Favorite

A preferred alternative that the decision maker uses repeatedly as a comparison

Satisficing

Selecting a solution that is satisfactory or "good enough" rather than optimal or "the best"

Intuition

The ability to know when a problem or opportunity exists and to select tue best course of action without conscious reasoning

Scenario Planning

A systematic process of thinking about alternative futures and what the organization should do to anticipate and react to those environments

Escalation of Commitment

The tendency to repeat an apparently bad decision or allocate more resources to a failing course of action

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Organizational Behaviour > Week 7: Decision Making, Creativity, Learning from Action > Flashcards

Decision Making

A conscious process of making choices among alternatives with the intention of moving toward some desired state of affairs

Rational Choice Paradigm

A deeply held perspective of decision making that people should - and typically do - make decisions based on pure logic and rationality

Rational Choice Decision-Making Process

1. Identify problem or opportunity
2. Choose the best decision process
3. Develop alternative solutions
4. Choose the best alternative
5. Implement the selected alternative
6. Evaluate decision outcomes

Bounded Rationality

Processing limited and imperfect information and satisficing rather than maximizing when choosing between alternatives

Implicit Favorite

A preferred alternative that the decision maker uses repeatedly as a comparison

Satisficing

Selecting a solution that is satisfactory or "good enough" rather than optimal or "the best"

Intuition

The ability to know when a problem or opportunity exists and to select tue best course of action without conscious reasoning

Scenario Planning

A systematic process of thinking about alternative futures and what the organization should do to anticipate and react to those environments

Escalation of Commitment

The tendency to repeat an apparently bad decision or allocate more resources to a failing course of action

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Week 7: Decision Making, Creativity, Learning from Action Flashcards Preview

Organizational Behaviour > Week 7: Decision Making, Creativity, Learning from Action > Flashcards

Decision Making

A conscious process of making choices among alternatives with the intention of moving toward some desired state of affairs

Rational Choice Paradigm

A deeply held perspective of decision making that people should - and typically do - make decisions based on pure logic and rationality

Rational Choice Decision-Making Process

1. Identify problem or opportunity 2. Choose the best decision process3. Develop alternative solutions 4. Choose the best alternative 5. Implement the selected alternative 6. Evaluate decision outcomes

Bounded Rationality

Processing limited and imperfect information and satisficing rather than maximizing when choosing between alternatives

Implicit Favorite

A preferred alternative that the decision maker uses repeatedly as a comparison

Satisficing

Selecting a solution that is satisfactory or "good enough" rather than optimal or "the best"

Intuition

The ability to know when a problem or opportunity exists and to select tue best course of action without conscious reasoning

Scenario Planning

A systematic process of thinking about alternative futures and what the organization should do to anticipate and react to those environments

Escalation of Commitment

The tendency to repeat an apparently bad decision or allocate more resources to a failing course of action

Key Links

Subjects

Company

Find Us

Brainscape's Knowledge Genome^TM

1. Identify problem or opportunity
2. Choose the best decision process
3. Develop alternative solutions
4. Choose the best alternative
5. Implement the selected alternative
6. Evaluate decision outcomes