HROB 3070 Lecture Notes - Lecture 11: Nominal Group Technique, Group Decision-Making, Hindsight Bias

• School: University of Guelph
• Department: Human Resources and Organizational Behaviour
• Course: HROB 3070
• Professor: Kevin Mc Dermott

Document Summary

Decision making choosing a candidate form the broader applicant pool. Raional decision-making: makes consistent, value-maximizing choices within speciied constraints, 6 step decision making process, deine the problem. 2. idenify the criteria: allocate weights to the criteria, develop alternaives, evaluate the alternaives, select the best alternaives. Randomness error: creaing meaning out of random events supersiions. Risk aversion: tendency to prefer a sure thing over a risky outcome. Hindsight bias: ater an outcome is already known, believing it could have been accurately predicted beforehand. Strengths: more complete informaion and knowledge, increased diversity of views, generates higher-quality decisions, leads to increased acceptance of soluion. Weaknesses: more ime consuming, conformity pressures in groups, discussion can be dominated by one or few group members, decisions sufer from ambiguous responsibility. Eiciency: group almost always stack up as a poor second to the individual decision maker, with few excepions, group decision making consumes more work hours than if an individual were to tackle the same problem along.