Decision-Making Gone Awry

In: Business and Management

Submitted By roxygurl9999
Words 1865
Pages 8
Decision-Making Gone Awry
Casey Heard
Management Decision Models
Argosy University
Mitchell Franklin
October 15, 2013

The purpose of this analysis is to discuss, review, and analyze various ineffective decision-making processes that can cause negative and unsuccessful decision-making outcomes and results. Social influence, such as peer pressure, social media, television shows, radio announcements, magazine articles, online and offline advertising and other forms of marketing, and even the utilization of the Internet are all tools that can be used for success; however, they can also be used in a negative manner, thereby creating ineffective, unsuccessful decision-making results. It is imperative for those in decision-making roles to be cognizant of decision-making tools that can be improperly utilized, thereby creating unsuccessful decision-making outcomes.

Decision-Making Gone Awry
Ever since the beginning of time, there have been people, both individuals and in groups, who fill the authoritative role of making decisions. People have the ability to make decisions for themselves by themselves and for others with others. An individual is sometimes in charge of decision-making for an entire team, group, or staff, or a group of people sometimes is in charge of an individual filling a role underneath their authority. Whatever the case or situation may be, there are effective and ineffective ways to utilize decision-making methods, which create either positive or negative results for a company, business, individual, and even family.
The Potty Predicament
Every mother and father on this planet raising children will at some point in their lives encounter the two-worded (and usually dreaded) event: potty training. My three year old daughter Peyton is still having some trouble in this department. As the mother, I am the one primarily…...

Similar Documents

Decision Making Awry

...An entrepreneur is more susceptible to the use decision making biases and heuristics than are managers in large organizations (Schade, 2007). To understand why entrepreneurs and managers in large organizations may vary in the extent to which they manifest biases and heuristics in their decision making, it is important to understand the utility of nonrational decision making (Schade, 2007). Under conditions of environmental uncertainty and complexity, biases and heuristics can be an effective and efficient guide to decision making (Schade, 2007). In such settings, more comprehensive and cautious decision making is not possible, and biases and heuristics may provide an effective way to approximate the appropriate decisions (Schade, 2007). The use of heuristics has also been found to be associated with innovativeness (Schade, 2007). Perhaps a critical difference between these sets of individuals is the extent to which they manifest biases and heuristics in their decision making (Schade, 2007). There are several traits and demographic factors, enduring support was found for the way entrepreneurs make decisions (Schade, 2007). We speculate that without the use of biases and heuristics, many entrepreneurial decisions would never be made (Schade, 2007). With entrepreneurial ventures in particular, the window of opportunity would often be gone by the time all the necessary information became available for more rational decision making (Schade, 2007).Additionally, successfully......

Words: 1480 - Pages: 6

Decision Making Gone Awry

...It is always been a great difficulty figuring out who to date. Going through life and figuring out do I follow the wants of my parents in a mate, or should I follow my heart. In my personal romantic life we will be discussing the decision model, of dating, and the social heuristic behind dating. Through this paper there will be details of the incentives of the dating scenario, identify the risks and potential decision biases. Then there will be an in-depth analysis of the scenario where the decisions will be looked and how they impacted the social factors. Finding a mate is never a easy process. Being part of an Italian family there were many indicators that the family pushes you towards. Being socially awkward, I leaned to the attention to my family because they knew what was good for my well being. Also why would they stray me the wrong way in my life. I had to make many decisions in order to find my mate the only thing on the line was, my heart. So when I mentioned to my family that I was open to the dating world, I was given a list of traits that I need to find in order to find the “ideal mate”. At the time, with my family being an important part of my life, I was open to the idea of finding a mate that would suit my family needs. Of course if these list of demands in my ideal mate were not met, then I would face family disapproval. Which in an Italian household takes a very long time to shake off. To fully know the incentives was purely find a mate. The idea......

Words: 816 - Pages: 4

Decision Making Gone Awry lives, we, both as people and consumers, make tons and tons of decisions. Some of them come naturally to us, like, “should I stop at the red signal?” or “should I turn off the TV before I leave the house?” Others, however, require a little bit more thought process behind them. Understanding how people arrive at their choices/decisions is an area that has received a lot of attention. Theories have been generated to explain how people make decisions, and what types of factors influence decision making in the present and future. There are several factors that also influence decision making. These may include “past experiences, cognitive biases, age and individual differences, belief in personal relevance, and an escalation of commitment” (Dietrich, n.d.). Understanding these factors may help us understand their impact on the decision’s outcome. One of the recent, most significant, decision making process that went awry for me was related to the car that I currently drive. About three years ago, my wife and I decided to purchase a new car. However, like most people, we were immediately faced with a tough choice of weather to finance or lease our purchase. Not having had an opportunity to purchase a brand new car in the past, I lacked the proper knowledge behind the concept of leasing a car. Historically I only had an option of financing, or right out buying the used car. In a typical decision making process there are five general steps; identify your goal,......

Words: 1206 - Pages: 5

Decision Making

...professional decisions. A huge one for me was enrolling in school. When I finished high school I went straight into college and my major was Education. I did not like going away for school so when I was finished I took a year off and then went back, but to a community college. After a semester, I realized that Education was not what I wanted to do for the rest of my life. This left me lost and confused because for as long as I can remember I have always wanted to teach. Rather than going back to school I continued to work full-time and eventually school became the least of the concerns. A few years ago I started working at my current job and my co-worker had a heart to heart with me about the future. Her words to me were “Are you really going to be working here for the rest of your life, you can do so much more” and those words really stuck with me for the rest of the day. It made me think that she was right, I didn’t want to be a manager forever, I wanted to go further. That night, I researched the University of Phoenix, spoke to an enrollment advisor, and within a few weeks I was starting my orientation for my Associates in Business. Here I am over a year later continuing my education and I have never been happier and I have my co-worker to thank for that little push of motivation. My decision making process what actually the same as what is stated in the reading. I was able to realize the issue, generate solutions, making a choice, and implementing the decision of the......

Words: 506 - Pages: 3

Decision Making

...Decision-Making Process "Life is filled with choices and decisions. Many of these are minor, but there are also times when we face difficult decisions. Good decision making is enormously important when we face significant decisions. It's also important to make good decisions all of the time" (Rich, Ed.D., MSW, DCSW, 1994-2012). In this paper it will identify a time in my life when I had to make a personal decision. The paper will also include the steps of my process, how my decision-making process is similar to the one in the text and how might my decision be different if I used the same steps in the text. Almost two years ago I made the personal decision to go back to school. What led me to this decision were all the mornings I would wake up to go to work and not be happy and feeling like I am not living life but just existing. Another reason I choose to go back to school was because while I was at work I was asked to train two interns. I believe these two interns had just graduated from college and was training them to become my boss. That thought made me stop playing around and sign up for school. The steps I made to get back in school was simply getting on the internet to look at different schools. After a few weeks I choose University of Phoenix and being to schedule appointments to get the ball rolling. Shortly after that I was sitting in my first and almost a year and a half later I am half way finish with my degree. In the text "The ideal decision-making......

Words: 568 - Pages: 3


...Decision-Making Case Study December 16, 2013 The health care industry have been impacted by the economy across the country. The patients who used Medicaid services have been affected by budget cuts. The Clark County Clinic has gone through budget cuts too. Each department that services to Medicaid clients has received a 15% budget cut. The managers of Clark County Clinic have to make a decision if they have to cut certain services or what they can do to still provide services to those that has Medicaid. Effective decision-making is a key component in managing an organization. Managers make important decisions daily that affect the operations and quality of their organization. Every manager has their own perspectives, some are natural at decision-making and some are not. Manager’s still uses tools such as the Informed Decisions Toolbox (IDT) by Rundall et al, it helps managers with their decision-making. Clark County Clinic has gone through budget cuts, a 15% budget cut. The organization has a number of decisions such has how to achieve the goal and still maintain the best quality care for their Medicaid clients. There is an article that have been written in 2007 by Rundall et al that describes the decision-making process and has a set of tools that may help this clinic make the most informed and effective choices determine which services should be changed to meet their budget needs (Rundall et al., 2007). The managers of Clark County Clinic will determine......

Words: 1081 - Pages: 5

Decision Making

...differences between the demand chain led organization and the supply chain led organization. Design/methodology/approach – The paper uses a desk-based approach to data collection and provides analysis and discussion of the issues. Findings – The paper finds that the differences between the demand chain led organization and the supply chain led organization are ones of emphasis. Supply management is cost-led and attempts to provide an adequate level of service. By contrast the demand chain approach is a broader view of relationship management taking a view that the two overlap and that effective management is to integrate the two. Originality/value – The paper focuses on the increasing importance of demand chain and supply chain management decisions. Keywords Supply chain management, Cost effectiveness Paper type Research paper The role of demand chain management 75 A glance at today’s financial pages suggests that it is those firms that consistently and persistently manage their cost structures that are seen as the achievers. There also appears to be a popular notion that an effective supply chain alone will ensure adequate customer satisfaction through reducing costs, and therefore, prices. At the same time, it will also meet shareholder performance expectations for profitability, share price growth and dividends. Sainsbury (the UK former market leader in food retailing) noted in the late 1990s in its annual report, the positive impact on overall profitability of increased......

Words: 8252 - Pages: 34

M5 A2 Decision Making Awry

...Sherry West B6025-P G01 Management Decision Models Dr. Matthew Kuofie Argosy University Module 5 Assignment 2 June 11, 2014 Management Decision Models Assignment- Decision Making Awry This assignment asks you to use decision making using social influence, persuasion and risk taking that went awry. Examine a time when you were involved in decision making that went awry as a result of protocols, social norms or persuasive techniques. If you do not want to use an example from your business or personal experience you can base your assignment on a journal article of your selection. Here are some key words to help you find an article for this assignment: * Decision making * Risk taking * Persuasion * Social heuristics Write a 5–6 page paper in Word format that addresses the following: * Describe a decision-making scenario using your business experience, personal decision making or cited journal article; include an example of the decision-making process, why it was a risk, how persuasion was used, and what the social heuristics were. * Explain the incentives that caused others to support the decision and identify why these incentives were selected. * Identify the risks and the potential decision biases in your scenario. Propose the corrective steps that should have been taken to overcome these biases. If a risk assessment was conducted how did this affect the decision-making process? * Analyze your scenario for what happened in......

Words: 1527 - Pages: 7

Decision Making

...MANAGEMENT’S DECISION MAKING – VINAMILK CASE STUDY TRUONG THUY CHUNG BACHELOR OF BUSINESS (ACCOUNTING) HONS HELP UNIVERSITY COLLEGE October 2011 i THE IMPACT OF ACCOUNTING INFORMATION ON MANAGEMENT’S DECISION MAKING – VINAMILK CASE STUDY By TRUONG THUY CHUNG Graduation Project Submitted to the Department of Business Studies, HELP University College, in Partial Fulfilment of the Requirements for the Degree of Bachelor of Business (accounting) Hons OCTOBER 2011 ii DECLARATION I hereby declare that the graduation project is based on my original work except for quotations and citations which have been duly acknowledged. I also declare that it has not been previously or concurrently submitted for any other course/degree at HELP University College or other institutions. The word count is 10,036 words. _____________________ TRUONG THUY CHUNG Date: 17 October 2011 iii ACKNOWLEDGEMENT First and foremost, my sincere gratitude is dedicated to my supervisor – Ms Nguyen Van Anh. Thanks for your strong support, guidance, intuitive comments and also motivation through the process of completing this thesis. In addition, I would like to send my gratitude to the International School and HELP for giving me an opportunity to conduct my study in my favorite area. Thanks to all my family and friends for your supports, helps and motivation and made it possible for me to complete this study iv THE IMPACT OF ACCOUNTING INFORMATION ON MANAGEMENT’S......

Words: 11081 - Pages: 45

Decision Making

... DECISION-MAKING SYSTEMS 1. Explain the importance of decision making for managers at each of the three primary organisation levels, along with the associated decision characteristics. * Meaning of decision making * Decision making is a process of selecting the best among the different alternatives. It is the act of making a choice. There are so many alternatives found in the organization and departments. Decision making is defined as the selection of choice of one best alternative. Before making decisions all alternatives should be evaluated from which advantages and disadvantages are known. It helps to make the best decisions. It is also one of the important functions of management. Without other management functions such as planning, Organizing, directing, controlling, staffing can’t be conducted because in this managerial function decision is very important. According to Stephen P. Robbins, “decision making is defines as the selection of a preferred course of action from two or more alternatives.” * Importance of decision making * Implementation of managerial function: Without decision making different managerial function such as planning, organizing, directing, controlling, staffing can’t be conducted. In other words, when an employee does, s/he does the work through decision making function. Therefore, we can say that decision is important element to implement the managerial function. * Pervasiveness of decision making:  the decision is......

Words: 823 - Pages: 4

Decision Making

... Decision-Making Analysis Discussion Summary Keyana Byrd February 22, 2016 MGT/230 Margaret Terassi Decision-Making Analysis Discussion Summary For this assignment, our team was to get together and reflect on the findings from the video: Xerox CEO. After reviewing the videos, we discussed several striking moves that Xerox made under the leadership of CEO Anne Mulcahy. We talked about the hardships that the company went through and the decisions that were made to fix the problems that existed within the enterprise. We talked about the drive and determination that you would need to be a CEO, especially in tight situations. We also discussed how some CEO's are brought into the company with existing problems which puts them into a situation that shows their true leadership skills. When Anne Mulcahy became the CEO of Xerox, she was brought into a world of conflict and strife. Inheriting a disastrous mess and the company drowning in debt Xerox was tottering on the brink of bankruptcy in Chapter 11. The corporation had over $17 billion in debt and had accounted losses in all of the previous six years. A radical reorganization of the sales force of companyShead not gone as per to plan. Customers were sad, and the financial system had started to weaken. Above all of that, Xerox established itself in the center of an extended inquiry by the Securities and Exchange Commission of accounting indecency in its unit of Mexico. The conflict was definitely one of......

Words: 514 - Pages: 3

Decision Making

...Brothers have gone from a small time company to a massive one that remains private and still ran by the two original owners. Success like this does not come easy. They’ve proven that they understand what tit takes to succeed and make decisions the right way. The go from product conception to product launch in as little as six weeks. To create timelines like this they use the rational decision making process, which consists of six steps. 1. Identify problem or opportunity 2. Choose the best decision process 3. Discover/develop alternative solutions 4. Choose the best alternative 5. Implement the selected alternative 6. Evaluate decision outcomes Each step of this method comes with its positives and negatives, but it’s hard to argue with the Wilson Brothers methods because they’ve proven to have so much success over the years. Although rational thought is a smart and proven way to go about decision making, it is not always the best method. Business is about passion and emotion. Using the rational theory we basically eliminate both of those things. Using our emotions and our “gut” feeling, we can make decisions that feel the best, regardless of rational thought. “There is business value lurking in what appears to be irrational” (Hwang, 2013). Our brains and DNA are capable of distinguishing things that rational thought would not perceive. That being said, we don’t want emotion to completely take over the process. Sometimes we can make a decision......

Words: 363 - Pages: 2

Decision Making

... Strategies for Decision Making Student’s Name University Affiliation Strategies for Decision Making What type of moral reasoning was the police officer using? The moral reasoning that is used by the police is one that is highly inclined to law. The moral reasoning can be related to Kant’s theory which is one of the theories under the deontological theories that judges an action as being either right or wrong not on the basis of the consequences of the action but on the basis of whether or not the action meets the obligation of an individual. The laws provided that every individual in a country is subject to all the laws as provided by the constitution of the country. In this case, the footballer and his wife were supposed to comply with the road laws by respecting the light and also by avoiding the over speeding. The police officer thus uses this moral reasoning to give them a ticket since they went against their obligation according to law. What type of moral reasoning was the football player using? The footballer was looking at the situation in a totally different perspective and another point of moral reasoning from that of the police officer. The moral reasoning used by the footballer was the reasoning that is based on consequences also known as the teleological reasoning. This is the kind of reasoning whether the justification of an action goal oriented. Here the values are used as a major basis for making the argument. The football player justifies......

Words: 584 - Pages: 3

Decision Making Gone Awry

...Decision Making Gone Awry Desiree’ L. Johnson Argosy University Isabel Wan Pediatrician What I Thought I Wanted Doctors are portrayed as one of the most successful professionals in the world. Growing up I was always told that I should become a doctor because they are successful and well off financially. I saw doctors on television, whenever I had an appointment with one and heard about them in school all the time. Becoming a doctor sounded amazing as a child and my parents encouraged me to become a doctor to be successful. I never saw all the work hard that was involved with becoming a doctor, the years of schooling and the tasks that would take place throughout the profession. All I was ever saw and told was doctors were amazing and extremely successful. At the age of eight, I decided I wanted to become a pediatrician just like my doctor, at the time. My mind was set on becoming a pediatrician, so I applied to various universities to become a doctor. I decided to go to California State University of Long Beach to receive a bachelor’s degree in Early Childhood Development. Realization However, two years after attending college I decided I did not want to become a doctor anymore. I learned that after undergraduate school that I still had to attending medical school and would most likely not be out of school until I was approximately thirty years old. I also learned that I did not like blood or needles, so that would not work well with the profession I was trying to...

Words: 1948 - Pages: 8

Decision Making

...Running head: DECISION MAKING Decision Making Bonnie K. Hinsdale Grand Canyon University BUS 660 November 24, 2010 Decision Making The purpose of this paper is to explore how a company can become an analytic competitor. Questions as to what are the sources of Decision Making to an analytic competitor will also be discussed. A discussion on how influential quantitative modeling is and its utility in business decision making will be summarized. Finally, a Christian view that presents an ethical perspective on quantitative modeling and decision making will be presented. In an ever increasing global environment, maintaining a competitive advantage can be sustained through quantitative modeling, which can make a company a viable analytic competitor. How Can a Company Become and Be an Analytics Competitor Competitors make it increasingly more difficult to maintain a strategic competitive advantage when exclusive technologies, products and services can be duplicated (Davenport, Cohen & Jacobson, 2005). Organizations are now framing their strategies to accomplish optimization of “key business processes”: serving optimal customers, optimize supply chains, and understand and create optimal financial performance (Davenport, et al., 2005, p. 1). Optimization strategies demand that organizations now gather extensive data and perform extensive analysis that will guide executives in the decision-making process. The data and the......

Words: 1870 - Pages: 8