Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Based on the below Analysis I need a story with the moral which describes this points 1. Because it does not take into account the

Based on the below Analysis I need a story with the moral which describes this points

1. Because it does not take into account the complexity of the situation, the emotions of the decision-makers, cognitive biases, or the fact that the future is unpredictable, the rational-choice model of decision making is not rigorously followed by decision makers in the real world of managerial work. Instead, decision makers follow other models of decision making that take into account these factors.

2. System One is a mental process that takes place unconsciously and entails making rapid, instinctual judgments with the least amount of mental effort. The conscious mental process known as System Two is characterized by decision-making that is more laborious and requires more reflection.

3. It is difficult for us to detect our own prejudices since they are unconscious, and we have a tendency to assume that our judgments are based on logic and facts rather than on our biases. However, this is not the case.

4. A decision quality checklist is a tool that managers may use to guarantee that the judgments they make are the ones that are in their organization's best interest. It is made up of a dozen questions that may be answered in order to determine how good a choice is.

5. The following are the four most crucial questions included in the decision quality checklist:

Is the choice based on information that can be trusted?

Does the group making the choice take into account all of the viable options?

Is consideration given to the expenses and hazards connected with making the decision?

Has the choice been validated by referencing any relevant previous experiences?

6. I did, in fact, watch the video of Atul Gawande as well as the extremely brief film of Peter Voser.

Step-by-step explanation

1. The rational-choice model of decision making is not rigorously followed by decision makers in the real world of managerial work because it does not take into account the complexity of the situation, the emotions of the decision-makers, cognitive biases, or the fact that the future is unpredictable. This is because the rational-choice model of decision making does not take into account any of these factors. Rather, decision makers adhere to various models of decision making that take into consideration the aforementioned aspects of the situation.

2. System One is a mental process that occurs instinctively and encompasses making quick, intuitive judgements with the least amount of mental effort possible. System One involves making decisions based on past experiences. The conscious mental process that is referred to as System Two is distinguished by decision-making that is more difficult and takes more deliberation than System One's decision-making.

3. We have a propensity to think that our judgements are based on logic and facts rather than on our biases, which makes it difficult for us to recognize our own prejudices since they are unconscious. This makes it difficult for us to recognize our own prejudices. On the other hand, this is not the situation.

4. A decision quality checklist is a tool that managers may use to ensure that the decisions they make are the ones that are in the best interest of their business. This can be accomplished by ensuring that the managers consider all relevant factors. It consists of a twelve questions, each of which may be answered in order to establish how suitable a decision is for a certain situation.

5. The following are the four most important questions that are included in the checklist for the quality of the decision:

Is the decision founded on facts that are reliable enough to be relied upon?

Does the group that is making the decision take into consideration all of the many possibilities that are available?

Does the process take into account the potential costs and dangers associated with making the decision?

Has the decision been verified by referring to any past experiences that are pertinent to the situation?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Strategic Brand Management Building Measuring and Managing Brand Equity

Authors: Kevin Lane Keller

4th edition

9780273779414, 132664259, 273779419, 978-0132664257

More Books

Students also viewed these General Management questions

Question

2. Avoid controlling language, should, must, have to.

Answered: 1 week ago

Question

Explain the meaning of an "insured" in an insurance contract.

Answered: 1 week ago