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Lecture 6

Week 6_Lecture10.docx

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Department
Administrative Studies
Course
ADMS 2400
Professor
Sabrina Deutsch Salamon
Semester
Summer

Description
ADMS2400 JUNE.11 WEEK 6_Lecture 10 Decision Making 1 Topic: Decision Making  Learning Objectives 1. Decision Making Models  The Rational Model  The Bounded Rationality Model 2. Decision Making Problems 3. Individual Vs. Group Decision Making  Decision Making ► Decision making refers to the process of generating and choosing from a set of alternatives to solve a problem.  The more knowledge and skills employees possess, the more likely they are to make accurate and sound decisions.  Two Types of Knowledge ► Explicit knowledge is the kind of information you are likely to think about when you picture someone sitting down at a desk to learn. ► Tacit knowledge is what employees can typically learn only through experience.  Up to 90% of the knowledge contained in organizations occurs in tacit form  Types of Decisions ► Programmed decisions are decisions that become somewhat automatic because a person’s knowledge allows him or her to recognize and identify a situation and the course of action that needs to be taken.  When a situation arises that is new, complex and not recognized, it calls for a non-programmed decision on the part of the employee.  As employees move up the corporate ladder, a larger percentage of their decisions become less and less programmed  Rational Decision Making Model ► Rational decision-making model offers a step-by-step approach to making decisions that maximize outcomes by
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