Chapter 10 : Making decisions

satisficing

choosing a solution that meets some minimum qualifications , one that is "good enough"

decision-making style

combination of how an individual perceives and comprehends stimuli and the general manner in which he or she chooses to respond to such information

bounded rationality

decision makers are "bounded" or restricted by a variety of constraints when making decisions

garbage can model

decisions result from a complex interaction between 4 independent streams of events: problems, solutions, participants and choice opportunities.

decision tree

graphical representation of the process underlying decisions and shows resulting consequences of making various choices

Delphi technique

group process that anonymously generates ideas or judgments from physically dispersed experts.

nominal group technique (NGT)

help group generate ideas and evaluate and select solutions

Brainstorming

help group generate multiple ideas and alternatives for solving problems

Decision making

identifying and choosing alternative solutions that lead to a desired state of affairs

intuition

judgments, insights, or decisions that " come to mind on their own, without explicit awareness of the evoking cues and of course without explicit evaluation of the validity of these cues"

rational / non relational Model

managers use a rational , 4 step sequence when making decision ( identify the problem, gernerate alternative solutions, evaluate them and select one , implement and evaluate the chosen decision) / attempt to explain how decisions actually are made

evidence-based- decision making (EBDM)

process of conscientiously using the best available data and evidence when making managerial decisions

creativity

process of using intelligence, imagination and skill to develop a new or novel product , object, process , or thought

consensus

reached when all members can say they either agree with the decision or have had their 'day in court' and were unable to convince the others of their viewpoint. In the final analysis, everyone agrees to support the outcome

judgmental heuristics

rules of thumb or shortcuts that people use to reduce information-processing demands

opportunity

situation in which there are possibilities to do things that lead to results that exceed goals and expectations

optimizing

solving problems by producing the best possible situation

problem

when actual situation and a desired situation differ