Textbook Notes (369,133)
Canada (162,403)
MHR 405 (330)
Chapter 7

Chapter 7 Notes.docx

6 Pages
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Department
Human Resources
Course Code
MHR 405
Professor
Gordon Wang

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Chapter 7 NotesDecision Making and CreativityGreat leaders typically resuscitate organizations by encouraging and teaching employees at all levels to make decisions more efficiently and effectively Decision makingthe conscious process of making choices among alternatives with the intention of moving toward some desired state of affairs the best decisions use pure logic and all available information to choose the alternative with the highest valueRational choice paradigm people should and typically do use logic and all available information to choose the alternative with the highest value oTo choose the alternative with the highest subjective expected utilitysubjective expected utilitythe probability of satisfaction maximizationthe alternative that offers the greatest level of happinessoAll decisions rely to some degree on aThe expected value of the outcomes bThe probability of those good or bad outcomes occurring Rational Choice Decision Making ProcessStep 1 Identify problem or opportunityProblema deviation between the current and the desired situationthe gap between what is and what ought to beOpportunitya deviation between current expectations and a potentially better situation that was not previously expectedStep 2 Decide how to decidedoes the decision maker need to involve others in the process is the decision programmed or nonprogrammedProgrammedfollow standard operating proceduresthe optimal solution has already been identifiedNonprogrammedrequire all steps in the decision model because the problems are newStep 3 Discover and develop a list of possible solutionsStep 4 Choose the best alternativeStep 5 Implement the selected alternativeStep 6 Evaluate decision outcomesProblems with the Rational Choice Paradigmassumes implementation occurs without any problemsAssumes people are efficient and logicaloIn reality people have difficulty recognizing problemso they cannot process the huge volume of information needed to identify the best solution
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