...Decision making in business affords numerous methodologies. Within the text, the Rational Decision Making model is outlined, including the Six Step Approach to making rational Decisions. This model, obviously, finds to be effective in most instances. It considers defining the problem, understanding all of the issues involved, weighing them, coming up with alternatives, categorizing these alternatives, and with all things considered, finding the best decision. This model considers that the steps are followed sequentially to attain the best result. While, scholars agree that for maximum effectiveness, the steps should be adhered to in order, they also recognize that “we as individuals very rarely employ them optimally” (Bazerman, 2009). I would like to offer a completely different model to decision making. Let us discuss the recognition primed decision making model as designed in 1985 by Gary Klein, which is further researched and outlined as an Intuitive Decision Making Model. This model utilizes the intuition one has, built by various outside factors, including experience, situation, and quite honestly: gut instinct. “In a given situation, the decision maker will pick up cues and indicators that let them recognize patterns. Based on these patterns and the decision they have to make, the person chooses a single course of action, an ' action script', that they consider will achieve the outcome” (McDermott). This action script, as described is based on how one replays...
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...they all practiced on college student. The first study, “The role of trait emotional intelligence in academic performance and deviant behavior at school”, is about trait relationship between emotional intelligence and cognitive ability and academic performance. For examples, student with high emotional intelligence are likely to absence and excluded from school and most emotional intelligence effects continue to exits even when that person has controlling their personality variance (Petrides, Frederickson & Furnham, 2002). The second article, “Trait emotional intelligence and preference for intuition and deliberation: Respective influence on academic performance”, considers about the role of trait emotional intelligence and preference for intuition and deliberation in short-term academic performance. Its results are relationships between trait emotional intelligence, preference for intuition, deliberation, and positive and negative affect before and after exam; moreover, emotional intelligence also plays a role with stress appraisal (Laborde, Dosseville & Scelles, 2010). The last paper, “Emotional intelligence and academic success: examining the transition from high school to university””, focus on examine relationship between emotional intelligence and academic success....
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...Strategic decisions: When can you trust your gut? Nobel laureate Daniel Kahneman and psychologist Gary Klein debate the power and perils of intuition for senior executives. For two scholars representing opposing schools of thought, Daniel Kahneman and Gary Klein find a surprising amount of common ground. Kahneman, a psychologist, won the Nobel Prize in economics in 2002 for prospect theory, which helps explain the sometimes counterintuitive choices people make under uncertainty. Klein, a senior scientist at MacroCognition, has focused on the power of intuition to support good decision making in high-pressure environments, such as firefighting and intensive-care units. In a September 2009 American Psychology article titled “Conditions for intuitive expertise: A failure to disagree,” Kahneman and Klein debated the circumstances in which intuition would yield good decision making. In this interview with Olivier Sibony, a director in McKinsey’s Brussels office, and Dan Lovallo, a professor at the University of Sydney and an adviser to McKinsey, Kahneman and Klein explore the power and perils of intuition for senior executives. 3 March 2010 “ My general view would be that you should not take your intuitions at face value; overconfidence is a powerful source of illusions Daniel Kahneman is a Nobel laureate and a professor emeritus of psychology and public affairs at Princeton University’s Woodrow Wilson School. He is also a fellow at the Hebrew University...
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...to use will be contingent solely upon your experience, the information that is available and the problem at hand. Good decision-making requires a combination of skills: first recognizing there is a problem, intuition, reasoning deductive and inductive, critical thinking, select your best solution and make and enforce your decision. As for conflict resolution I choose collaborative negotiation because the people involved work together towards an equally beneficial outcome. Also, with collaborative negotiation there is an enormous concentration on the welfare of the people involved while preserving an optimistic relationship. Plus, because many real-world problems...
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...The traditional TOK diagram indicates four ways of knowing. Propose the inclusion of a fifth way of knowing selected from intuition, memory or imagination, and explore the knowledge issues it may raise in two areas of knowledge. The study of Theory of Knowledge (TOK) indicates four distinct ways of knowing: sense perception, emotion, reason and language; however, in this essay I will argue for the inclusion of intuition as a fifth way of knowing. Intuition is that moment of enlightenment that is unexpected in which something is revealed to give one a greater understanding on a problem or puzzle or issue of concern that is perplexing. A knowledge issue worth examining in relation to the role intuition plays in these areas of knowledge is: How does intuition lead to knowledge acquisition in the natural sciences and in ethics? Personal intuitive insight has to be in some form of communication which conforms to requirements of public knowledge, natural sciences conforming ...
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...found out their core values and which aspects of life seem sensible to them and which proved to be a challenge. With this activity, I learned a few interesting facts about myself while other things did not surprise me. The activity showed a balance in both reasoning and intuition skills. With reasoning, I tend to think about situations in a rational way. I weigh the pros and cons before I make a conscious decision. I am less harsh on myself in a situation because I am a rational thinker, although there are times I may get a little stressed. Often times I sit back and analyze the situation before making a decision or giving advice to an individual. As far as personal intuition is concerned, I am pretty sensible. Intuition leans towards a person’s ability to “listen” to the subconscious language and advice of the soul and of the universe. Often times this intuition can be simply explained as a “feeling” we get when making a decision or facing a challenging task at hand. My intuition was identified as being sensible. Then there are times when people make decisions that do not seem logical. I try to think things through the end. My decisions prove to be end with less desirable results. When I listen to my sensible intuition, I am always duly rewarded both mentally and physically. I am able to fulfill my duties based on my sensible and rational thinking because I generally do not tend to place blame on others as a scapegoat. I normally take responsibility of my actions and deal with the...
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...of psychological types. After taking the test, the result was ENTP. The E stands for extrovert, the N for intuition, T for thinking and the P for perceiving. Each of the four areas of the assessment was very clear after being scored. As an ENTP, the primary mode of living is focused externally, where you take things in through your intuition. The secondary mode is internal, where they deal with things rationally and logically. With Extraverted Intuition dominating their personality, their primary interest in life, is understanding the world that they live in. They are constantly absorbing ideas and images about the situations they are presented in their lives. Using their intuition to process this information, they are usually extremely quick and accurate in their ability to size up a situation. This ability to intuitively understand people and situations puts them at a distinct advantage. They generally understand things quickly and with great depth. They are also flexible and adapt well to a wide range of tasks. ENTPs are idea people. Their perceptive talents cause them to see possibilities. They get excited and passionate about their ideas, and are able to spread their excitement to others. Their secondary process of introverted thinking drives their decision making process. Though they are more interested in absorbing information than in making decisions, they are quite rational and logical in reaching conclusions. When they apply thinking to their intuitive perceptions...
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...Critiquing the Affects of Globalization, Diversity, and Intuition on Managerial Roles Managerial roles are increasingly more challenging to fulfill with employees, projects and industries spanning across countries and boundaries. With globalization, there are business process differences to overcome, diversity with respect to organizational culture to consider, and the intuitive element is approached from gender perspective as well as its relevancy in shaping managers’ cognitive style. Global change is altering the supply chain management structure and efficiency for U. S. multinational corporations. Johnson (2006) points to five areas of importance regarding supply chain management structures: Globalization and outsourcing, including the impact of China and India on supply chain structure and coordination; new information technologies, such as radio frequency identification (RFID) and tools that enable enterprise integration and collaboration; economic forces within and between supply chains, from the consumer pricing to supplier contract negotiation; risk management, including risks from supply chain complexity and from security threats; product lifecycle management, including post-sale service and product recovery (p.191-192). Even though these areas are important, Johnson (2006) underemphasized the importance and affects of cultural values and managerial philosophies on supply chain management organizations (Robbins & Judge, 2007). Anwar and Chaker (2003) demonstrated...
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...Title: Application of Cognitive Continuum theory to decision making by nurse managers Student Name: Institutional Affiliation: 10th October, 2014 Introduction Decision making may in this case be expressed as a route of selecting an alternative that is more likely to facilitate the achievement of organizational or individual goals (Bjork & Hamilton, 2011). The nursing practice has moved towards full evidence-based implementation of care which as a result enhanced the call for proper creation of decision within nursing. However, numerous nursing theories have been developed to support increased rational analysis and decision making in the nursing practice. The theory of cognitive continuum is in this case a vivid middle-range theory developed Hammond. The theory basically shows how judgment situations are linked to cognition. Additionally, six of the decision making modes which are based on the cognition and judgment, are described in the theory (Custers, 2013). The cognitive continue part of the theory shifts from suspicion to examination whereas the judgment varies from worse-planned to well-planned (Dhami & Thomson, 2012). Indeed, this study seeks to launch how the theory of cognitive continuum strategy may be useful in helping nurse managers make critical decisions. The paper includes the following sections: statement of the nurse manager decision making issue; and description of how the theory of cognitive continuum theory may be employed to determine the issue...
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...1. In a general sense, what kinds of decisions are made in baseball? Would you characterize these decisions as structured or unstructured problems? Explain. What type(s) of decision-making condition would you consider this to be? Explain. The answer to this question lies in which aspect of baseball you are referring. When it comes to actually playing the game and the decision involved, the problems are structured. For example, if a pop fly is hit to left field and there is a player on 1st, where is the ball thrown? On the other hand, recruiting high profile players, building a new stadium, and trying to secure television contracts would be considered unstructured because the factors involved may be novel and untried. 2. Is it appropriate for baseball managers to use only quantitative, objective criteria in evaluating their players? What do you think? Why? Students should see that qualitative criteria are also important because baseball is a sport that involves life-long fans and grudges. Many of the decisions involved in baseball are based fan loyalty and a team’s potential to sell tickets. Not all of these decisions involve objective measures. 3. Do some research on Sabermetrics. What is it? What does it have to do with decision making? Sabermetrics is a quantification decision making aid. By telling decision makers what to pay attention to and by providing weights for those criteria, it is easier to predict winners and losers. ...
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...Managing: the art of determining the right balance Maastricht University School of Business and Economics Maastricht, 6 June 2014 Ignacio, I.K.A ID number: i6016200 Study: MSc Accountancy Course code: EBC4045 Group number: 2 Tutor name: W. Foppen Writing Assignment: Individual paper Table of Contents 1. Introduction ....................................................................................................................... 2 2. Managing ........................................................................................................................... 3 3. The organization and its people ....................................................................................... 4 3.1 3.2 Company ........................................................................................................................................ 5 Teams ............................................................................................................................................. 6 3.2.1 Familiarity ................................................................................................................................. 7 3.2.2 Open communication ................................................................................................................. 8 3.3 Individuals ..................................................................................................................................... 8 4. A move to the external environment...
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...Project and people assignment 1 Topic: Individual decision making * Individual think and reason before they act * Process of choosing from the several alternatives * Effective decision making- forecast the outcome of each option and determine which option is the best for that particular situation * Suggestion to manager: i) Analyze situation ii) Be aware of biases and try to reduce impact iii) Combine rational analysis with intuition iv) Try to enhance creativity * Decision making in organization i) Rational model: a) Defining the problem b) Identify the criteria c) Allocate weight to the criteria d) Develop alternatives e) Evaluate the alternatives f) Select the best alternatives Assumption of the rational model: a) Problem clarity b) Known option c) Clear preference d) Constant preference e) No time or no cost constraints f) Maximum payoff ii) Bounded rationality: iii) Intuition: a) Identify the problem - unconscious process b) Identified the limited list - it is form of superstition c) Analyze the limited list and sixth sense d) Chose critical alternatives e) Satisfying choice first acceptable BILL GATES * Born – Oct 28, 1955; Seattle, Washington. * Bill gates graduated in 1973, enrolled at Harvard college, met Steve Ballmer ...
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...BA 510 Organizational Theory Final Exam I offer you a challenge for purposes of accessing your understanding of the material presented in this class. This challenge is somewhat unique as it will test your integrate key concepts into material taken from everyday life. This exam is in 2 parts. EXAM INSTRUCTIONS You are limited to 13 pages (single spaced, 26 pages double spaced) to tie your thoughts together. This is not an invitation to write more than is necessary, just a realization that some may want to write more in a last minute attempt to raise their final grade. This exam must be submitted to me via the assignment link in the Final exam folder on the assignments page by Saturday March 19th at 10 AM CT. Early submissions are encouraged! PART 1 Instructions Your task is to explain each of the 17 quotes below in terms of material we have talked about in this class. Each quote should be given some thought as to what theory/concept/approach we have talked about ties into each snippet, and what OB lessons can taken from each quote. Some notes before you start… 1) Each quote was chosen for what it says, not for who said it. 2) It is possible that these quotes could be tied to multiple ideas. 3) I am looking for explanations of what you see, and demonstrations of understanding of the material. For example, telling me that #1 is about leadership is not enough. 4) You are allowed to take as much time on this test as you would like, and use any source...
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...J Bus Ethics (2011) 104:311–323 DOI 10.1007/s10551-011-0910-1 A Model for Ethical Decision Making in Business: Reasoning, Intuition, and Rational Moral Principles Jaana Woiceshyn Received: 11 February 2011 / Accepted: 16 May 2011 / Published online: 28 May 2011 Ó Springer Science+Business Media B.V. 2011 Abstract How do business leaders make ethical decisions? Given the significant and wide-spread impact of business people’s decisions on multiple constituents (e.g., customers, employees, shareholders, competitors, and suppliers), how they make decisions matters. Unethical decisions harm the decision makers themselves as well as others, whereas ethical decisions have the opposite effect. Based on data from a study on strategic decision making by 16 effective chief executive officers (and three not-soeffective ones as contrast), I propose a model for ethical decision making in business in which reasoning (conscious processing) and intuition (subconscious processing) interact through forming, recalling, and applying moral principles necessary for long-term success in business. Following the CEOs in the study, I employ a relatively new theory, rational egoism, as the substantive content of the model and argue it to be consistent with the requirements of longterm business success. Besides explaining the processes of forming and applying principles (integration by essentials and spiraling), I briefly describe rational egoism and illustrate the model with a contemporary moral...
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...Decision making: intuition vs ability Some people have an advantage in decision making but it does not mean that they are talented. Special management theories and experience are mainly important. However, having knowledge is not enough. Great leader must be able to apply knowledge in business and life. Ahmed Sharawy (2013) pondered about reasons of advantages some people to another in making decisions. He claimed that be smart in decision making does not mean be special and extraordinary but be well developed and skilled. According to his article, in addition to respectable theories good leader must study on his own mistakes and failures to be enough experienced and be able to turn decision making into spontaneous process, excluding using intuition only. Another important point is that when probabilities get complicated, choosing the best decision becomes to be a difficult process and outcomes can be irrational. In such situations, regression models lead to more direct solutions. However, such models make decision making process absolutely systematic, reducing creativity. Author also describes “prospect theory”, according to which people look for more risks under negative effects and try to avoid it when they are positive. Moreover, he writes that businessmen must check their decisions before acting them. Sharawy describes research, which shown that decision makers sometimes deteriorating their performance and it is important to match decision making with groups...
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