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MGSC46H3 (13)

Decision Making

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Department
Management (MGS)
Course Code
MGSC46H3
Professor
Phani Radhakrishnan

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Decision Making
- First, executives may fail to see or seek out key information needed to make a sound
decision
- Second, they may fail to use the information that they do see because they arent aware of
its relevance
- Finally, executives may fail to share information with others, thereby bounding the
organizations awareness
Failure to See Information
- The ability to focus on one task is undoubtedly useful, but focus also limits awareness
- People overlook more than just the information they DUHQ¶W expecting
- Another area of perceptual blindness has to do with gradual change
Failure to Seek Information
- Seeking disconfirming information is a powerful problem solving approach, but it is
rarely a part of our intuitive strategies
- Generating contradictory evidence should be part of everyones job. But one way to
integrate this form of thinking is to assign a ³devils inquisitor´ role to a member of the
group
Failure to Use Information
- Success can create bounds that prevent executives from using readily available
information
- Decision makers may succeed at focusing on how well they can perform a task but tend
to ignore how well the competition can do the same task
- Individuals are much more likely to compete on easy tasks, even when facing a great deal
of competition, than to compete on harder tasks, despite the fact that it will also be harder
for the competition
- Executives can take steps to gain access to similarly critical information. One method is
to ³unpack´ a situation, or make the full context of the relevant information clear
- People tend to take more credit than they deserve for a groups accomplishments
Breaking Through Your Bounds
- You can learn to locate useful information outside your bounds of awareness by asking a
simple question: Why not?
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Description
Decision Making - First, executives may fail to see or seek out key information needed to make a sound decision - Second, they may fail to use the information that they do see because they arent aware of its relevance - Finally, executives may fail to share information with others, thereby bounding the organizations awareness Failure to See Information - The ability to focus on one task is undoubtedly useful, but focus also limits awareness - People overlook more than just the information they ,7039 expecting - Another area of perceptual blindness has to do with gradual change Failure to Seek Information - Seeking disconfirming information is a powerful problem solving approach, but it is rarely a part of our intuitive strategies - Generating contradictory evidence should be part of everyones job. But one way to integrate this form of thinking is to assign a devils inquisitor role to a member
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