MMM132 Lecture Notes - Lecture 10: Satisficing, Critical Thinking, Empowered

• School: Deakin University
• Department: Business and Law
• Course: MMM132
• Professor: Wendy Webber

Document Summary

6 questions one for each topic, only have to answer 5. 10 marks per question: all short essay answers, define each concept or combination of concepts, give an example of anything from any organisation. Critical thinking (cid:449)hat (cid:373)ight (cid:271)e (cid:449)(cid:396)o(cid:374)g (cid:449)ith those theo(cid:396)ies, (cid:449)he(cid:374) (cid:449)o(cid:374)(cid:859)t the(cid:455) (cid:449)o(cid:396)k, ho(cid:449) (cid:449)ill it appl(cid:455) in this organisation in comparison to other organisations: groups and teams not examinable, good to critique, find limitations, issues, problems. Decision making process: managers imply that their decisions are rational, rational from their perspective and values, most of the time, decisions may seem right but in reality, it can be questionable because of the context. Identify and define a problem (identifying an incorrect issue can cost) key aspect. Identify decision criteria how to address the problem: allocation of weight to criteria - cost, satisfaction, service (list and rank), mathematical approach or satisficing, develop alternatives, analyse alternatives. Implement an alternative: evaluation of decision effectiveness.