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The Analytical Mindset: Decision Making Part 2

The Analytical Mindset: Decision Making Part 2. OS608 November 13, 2006 Fisher. Agenda. Biases in decision making The “illusion of objectivity” Obtaining input from afar – pros and cons of using knowledge management systems in decision making Mid-course feedback. Sources of Bias.

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The Analytical Mindset: Decision Making Part 2

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  1. The Analytical Mindset: Decision Making Part 2 OS608 November 13, 2006 Fisher

  2. Agenda • Biases in decision making • The “illusion of objectivity” • Obtaining input from afar – pros and cons of using knowledge management systems in decision making • Mid-course feedback

  3. Sources of Bias • Implicit prejudice • Favoring own group • Conflict of interest • Overclaiming credit

  4. GM’s “Winning with Integrity” • Outlines expected behaviors for employees and board members • Covers many areas of behavior • Fair treatment and respect • Property use • Accepting gifts from suppliers/vendors • Environmental principles • Conflict of interest Retrieved from http://www.gm.com/company/investor_information/docs/corp_gov/wwi2005.pdf

  5. GM’s process for deciding if employees can accept gifts/entertainment

  6. In-class writing • Do you agree with the authors’ contention that a biased decision is unethical? Why or why not?

  7. Counteracting biases • “Unpacking” the decision process – consider the whole situation, not just self (removing the ego again!) • Experience different environments to counteract stereotypes • Eliminate mental shortcuts • “your intuition is prone to implicit prejudice” (p. 7)

  8. Groups and Decision Making • One goal of including the perspectives of many people in a decision is to minimize biases • Relying on personal network can introduce biases (as suggested by Banaji, et al) • KM systems are one way to potentially enhance decision making

  9. Knowledge Mgmt Systems • How do formal KM systems improve decision making? • What additional biases might be introduced with KM systems?

  10. Another KM-type application • IBM’s labor resource management system (Professional Marketplace) • Database of skills, experience, and location; will include 180,000 professional services employees worldwide • Used to select employees to staff projects

  11. Temporary changes in office hours • Nov. 13 and 20: Job candidates in town. • Office hours cancelled • New office hours on Tuesday Nov. 14 from 1-2:30 • Nov 16: Office hours cancelled

  12. For Wednesday • Moving on to the Collaborative Mindset • Review 'Managing Relationships' section of Gosling and Mintzberg • Starting with issues related to the employee’s relationship with the organization. Read: • Rousseau (2004). Psychological contracts in the workplace: Understanding the ties that motivate. • Lewis (2005). Fostering a Loyal Workforce at Trader Joe's.

  13. Mid-course feedback • What do you like about the class so far? What should we keep doing? • What should we change? • Feedback should be anonymous.

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