How Do Individuals Make Decisions Discussion writing homework help
Theme #1: How Do Individuals Make Decisions
Read:
Theme #2: Emotional, Psychological and Social Traps
Approach critical thinking from the start removing the bias in decision making. Imposing objectivity into the process has to start from the beginning so recognizing the way we come into making decisions is important.
Read:
- Representativeness Heuristics
- Caldwell: Successful Business Leaders Know How to Make Decisions
- The 12 cognitive biases that prevent you from being rational
- 8 Biases That Cripple Smart Decision Making
- How Emotional Tagging Can Push Leaders to Make Bad Decisions
- The Hidden Traps In Decision Making
- The Emotional Ignorance Trap
- Psychological Traps: What Are They?
- What is Confirmation Bias?
- Avoiding Confirmation Bias
- How Warren Buffett Avoids Confirmation Bias
- Status Quo Bias
- Anchoring Bias
- Anchoring Effects to Influence Decision Making in a Business
- Cultural Bias
- Framing an Ethical Decision
The above reading is to give you an idea of what to write. Let me know if you have further question.
Learning Activity 1 – Theme One
In order to make the process more objective, it is important to critically view the factors surrounding the process itself.
Select three of the traps that can affect decision making. Create your own fact pattern exemplifying how the trap affected a business decision. You can also use a real example from the Internet but be careful not to use the same one as someone else. Do not identify the trap. Post your example by Friday. Then let your fellow classmates tell you what trap it is. On Sunday go back and make sure that everyone identified the right trap for your scenario.
Learning Activity 2 – Theme Two
How do you make decisions?
As adults we all feel that our decision making process must be pretty good. However, everything we do can be improved. How good are your decision making skills?
http://www.mindtools.com/pages/article/newTED_79.htm
Take the quiz in the link above and evaluate your decision making skills. Report your scores to the class with an evaluation of the areas that could stand improvement.
Review your results and then look at the psychological traps that affect decision making. Provide examples of times when you have been influenced by a trap? Do you think that the quiz findings reflect a tendency to fall prey to a trap? For instance, when you go to the grocery store do you stick to a list or do you walk out with items that struck you as yummy as you saw them in the aisle or the front of the store.
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