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Lecture

Chapter 11 lecture notes


Department
Management (MGH)
Course Code
MGHB02H3
Professor
Julie Mc Carthy

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Step 1
Individual Step 2
Group Step 3
Survival expert Step 4
Step 3 – Step 1 Step 5
Step 3 – Step 2
Ball of steel wool 2 2 0
Newspapers 8 8 0
Compass 11 11 0
Hand axe 6 6 0
Cigarette lighter 3 1 2
45-calibre pistol 9 9 0
Section air map 12 12 0
Canvas 5 5 0
Shirt and pants 4 3 1
Can of shortening 1 4 3
Whiskey 10 10 0
Chocolate bars 7 7 0
Total 6
Your score Group score
Steps to Take for Survival
1. keep warm
2. build a shelter
3. signal for help
Group vs. Individual Decision Making
Advantages of Group Decision Making
x pooling of resources—lots of people
x specialization of labour
x greater acceptance of the decision that is made
Disadvantages of Group Decision Making
x conflicts
x groupthink
x intimidation
Groups do Better
x complex problems with various specialized individuals joining together
x free communication of ideas
x members who have complementary skills—skills are not identical, but play off each other
Individuals do Better
x when an expert opinion is required on some subject
x simple problems with simple solutions
x creativity
The Rational Economic Model
x the decision maker has perfect and complete information
x will be able to process in a clean and unbiased fashion
x does not recognize cognitive limitations
The Administration Model
x recognizes that decision makers have a limited view of problems
x satisfice Æ they select the first available alternative solution that comes to them
x bounded rationality Æ people don’t have access to all info and also lack cognitive skills to solve complex problems
x most of the time the decision maker is acting in uncertain conditions (solving uncertain problems); is working with
limited information; and has only partial knowledge of alternatives
x decision makers also face time constraints and face “political pressures”
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