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Decision-Making Style Questionnaire Results

Decision-Making Style Questionnaire Results. Fall 09 Previous Logical 19.2 n/a Intuitive 17.0 Procrastinating 10.3 Consulting 15.9 Impulsive 13.4. Steps in Decision Making. Problem Identification (need Goal Consensus) Monitor the decision environment

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Decision-Making Style Questionnaire Results

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  1. Decision-Making Style Questionnaire Results Fall 09 Previous Logical 19.2 n/a Intuitive 17.0 Procrastinating 10.3 Consulting 15.9 Impulsive 13.4

  2. Steps in Decision Making • Problem Identification (need Goal Consensus) • Monitor the decision environment • Define the problem • Specify decision objectives • Diagnose the problem • Problem Solution (need Technical Knowledge) • Develop alternative solutions • Evaluate alternatives • Choose the best alternative • Implement the chosen alternative

  3. Contingency Framework GOAL CONSENSUS (Problem Identification) LOW HIGH HIGH 1 2 RATIONAL APPROACH, COMPUTATION BARGAINING, COALITION FORMATION TECHNICAL KNOWLEDGE (Problem Solution) 3 4 JUDGMENT, TRIAL AND ERROR BARGAINING, JUDGMENT (GARBAGE CAN MODEL) LOW

  4. Garbage Can Model • Extreme Problem Uncertainty • i.e., low goal consensus and low technical knowledge • Streams of Events • Problems • Solutions • Participants • Choice opportunities

  5. Garbage Can Model: Implications • Solutions may be proposed to problems that do not exist. • Choices may be made without solving problems. • Problems persist without being solved. • A few problems are solved.

  6. Escalation of Commitment Escalation occurred when the British government continued funding the Concorde supersonic jet long after its lack of commercial viability was apparent. Some scholars now refer to escalation of commitment as the “Concorde Fallacy.” © Corel Corp. With permission

  7. Causes of Escalation of Commitment • Gambler’s fallacy • Self-justification • Sunk costs © Corel Corp. With permission

  8. Framing • To prevent the way a problem is presented (framing) from biasing the decision: • Try to look at problem in different ways • Re-word it • Put yourself in the position of other people • Leave the problem and come back to it later • Consult with other persons

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