Decision Making Process Overview

Accepting a solution that is good enough, rather than the optimal solution.

A reason why people satisficing in decision-making.

Sticking to a bad decision, even when evidence suggests it's wrong.

Avoiding admitting an earlier decision was flawed.

Decision-making based on unconscious reasoning and feelings.

Speed and swiftness compared to a rational decision-making process.

About 75% of managers use intuition rather than thorough analysis for decisions.

Combining intuition with other decision-making approaches.

Intuition guides ethical decision-making.

Leveraging past experiences in making decisions.

Drawing on knowledge, skills, and training to make decisions.

Features or factors used to evaluate and compare different options during a decision-making process.

A step in decision-making where different options are examined and compared.

Assessing the success of a chosen decision after its implementation.

Choosing the best option from a set of available decisions.

Putting the chosen decision into action.

Factors a high-tech bicycle buyer considers, like technical specifications and performance.

A mental shortcut or rule of thumb used for making decisions quickly.

A decision made that is logical and consistent with the decision maker's goals.

A measurable factor used for evaluating alternatives without personal bias, unlike subjective factors.

Criteria that are assigned varying degrees of importance in the decision-making process.

The potential for mistakes and distorted judgments when using heuristics instead of a comprehensive decision-making process.

Using mental shortcuts to simplify decision-making, often leading to faster choices.

Emotions and feelings can influence decision-making, sometimes positively, and sometimes negatively.

A rational decision may not always lead to the best or most successful solution to a problem.

The idea that managers' ability to make rational decisions is limited by constraints.

To choose a solution that is satisfactory, not necessarily the best, but adequate.

Decision-making based on instinct, experience, and gut feelings, often used for unstructured problems.

Continuing a failing course of action despite evidence of its poor performance. 'Throwing good money after bad'.

Clear, straightforward problems with readily available data and solutions.

Complex, ambiguous problems with limited information and multiple potential solutions.

Routine decisions made quickly using established procedures or rules.

Evaluating the decision's effectiveness, not implementing the alternative.

Difference between current state and desired state.

Factors relevant to a decision.

Comparing current state to a standard.

Not all criteria have equal weight.

Equal failure as solving right, yet failing to complete solution.

Implementing the chosen alternative.

Simplifying decision-making process.

Heuristics can lead to decision-making errors.

Seeking information that confirms existing beliefs.

Judging likelihood based on ease of recall.

Rational, bounded rational, and intuitive.

Makes objective and logical choices.

Choosing the best option to get the most positive effect.

A phenomenon where a group's desire for harmony and consensus overrides critical evaluation of different ideas and solutions.

Influential members dominating discussions, group leaders prioritizing consensus, lack of impartial judgment.

Strategies to avoid groupthink, including having an impartial leader, fostering open discussion, and encouraging diverse perspectives.

A group technique used to generate creative ideas, encouraging many alternatives without initial evaluation of ideas.

During brainstorming sessions, criticism and evaluation of ideas are not allowed.

A group technique for problem-solving that combines independent work and group discussion. This promotes individual idea generation and combines ideas without initial evaluation or social pressure.

A process that uses technology for group discussion, decision making. Sometimes includes a mixture of independent input or blended group interactive sessions.

Video conferencing offers ways to reduce travel time and costs while allowing the expression of opinions in a relatively anonymous setting.

Group decisions can provide more comprehensive information and increase perceived legitimacy of solutions.

A drawback of group decision making is groupthink, a tendency towards poor decisions that prioritize consensus and avoid critical thinking.

Groups are generally less efficient than individual decision-making. They can be slower due to the need for consensus and discussions.

Anonymity and honesty are common advantages of using technology for meetings. Group members may feel safer to express their true opinions.

In high power distance cultures, mid-level managers are less likely to take risks or disagree with their leaders, whereas managers in low power distance cultures are more likely to take risks and challenge decisions.

Managers in low uncertainty avoidance cultures are more likely to make risky decisions, Managers in high uncertainty avoidance cultures, are more risk averse.

Individualistic cultures (like the US) generally exhibit less conformity than group-oriented cultures (like Japan).

Ringisei is a Japanese management style emphasizing group decision making and consensus-seeking.

French management is generally characterized by a rule-following and autocratic approach.

Interacting with international organizations requires being flexible and adaptable to understand and accommodate various management styles from different cultures.

Creativity can help individuals find unique and better solutions to everyday problems.

Research suggested that most men and women exhibit similar levels of creativity.

A strong understanding of a subject is crucial for individual creativity—knowledge is power.