Essay, 3 pages (600 words)

Week 8: discussion board

Decision Making Decision Making Why is identification of the real problem the first and most important step in the decision-making process? How does attribution theory explain mistakes that can be made as managers and employees work together to explain why the problem occurred?
The first step in decision making process is very important. The identification of the real problem makes is it possible to state and understand the underlying problem to be solved. It provides an opportunity to clearly state the outcomes or goals to be achieved in the course of the decision making. Consequently, stating of the goals helps in clarifying thoughts.
Attribution theory posits that when we judge other people we get influenced by other factors which are based on our decisions. Thus, when managers and employees work together they are vulnerable to influence each other in decision making. For instance, people have different beliefs, goals and emotions. These factors influence them in their opinion about other people to large extents.
2. How can organizations effectively manage both risk taking and escalation of commitment in the decision-making behavior of employees?
The effective strategies to manage risk taking and escalation of commitment include:
Optimization: This involves the discovering of as many possible alternatives and then choosing of the best possible solution to a problem. Employees are to be involved in this process as this enhances their commitment in the whole process as well as increases their motivation in the ultimate implementation of the decision made.
Maximax is another strategy that can be used in managing risk taking as well as increasing employee commitment. This strategy focuses on the analytical evaluation of alternatives and choosing of the best alternative basing on their possible payoff. It is considered the best strategy when risk taking is inevitable.
3. How can organizations encourage creative decision making?
Involving everyone in the decision making process.
Encouraging the communication of feedback regarding the progress in the decision making as well as the implementation processes.
Before making the ultimate decision, it is important to figure out what the right thing to do is. This may even involve trying it out before full implementation
Setting up of boundary conditions also encourage creative decision making. This involves defining the specifications that answer the problem and having an in-depth understanding of the range of the options.
Consulting experts is also another way by which organizations can enhance creative decision making as they are accessible to expertise knowledge.
4. Reflect on your own experience in groups with groupthink. Describe the situation in which you encountered groupthink, the symptoms that were present, and the outcome. What remedies for groupthink would you prescribe?
Groupthink occurs when the desire for harmony in a decision-making group usually overrides the appraisal of alternatives. For instance in a group I am familiar with, groupthink was experienced when there arose a disagreement regarding feasibility of a certain solution to a problem. In trying to minimize the conflict, members of the group reached a consensus decision by avoiding the critical evaluation of the underlying viewpoints. The symptoms present in this situation include:
Closes mindedness
Overestimation of the power and morality of the group
Pressure towards uniformity and this includes direct pressures placed on any member who questioned the group so as to enhance conformity.
The outcomes include:
Failure to completely survey alternatives.
Failure to evaluate the previously rejected alternatives.
Selection bias during information collection.
Poor search for information.
The remedies include:
Effective examination of alternatives.
Setting up alternative groups to work on the same problem.
Assigning each member the role of evaluating alternatives critically.
Group should consider inviting outside experts.
Weygandt, E. K., Kimmel, D. P., & Kieso, D. E. (2009). Managerial accounting:
Tools for business decision making. (pp. 61-74). New Jersey: Wiley.

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