MHR 405 Chapter Notes - Chapter 7: Subjective Expected Utility, Availability Heuristic, Scenario Planning

• School: Ryerson University
• Department: Human Resources
• Course: MHR 405
• Professor: Sathy S.Sritharakumar

Document Summary

Rational choice paradigm: view that effective decision makers identify, select and apply the best possible alternative, subjective expected utility - determines choice with the highest value (maximization, decision making process - systematic stages of decision making. Ght against pressure to look decisive; maintain divine discontent (aversion to complacency); discuss the situation with colleagues for different perceptions. Emotions and making choices: emotions form preferences before we consciously evaluate those choices, moods and emotions in uence how well we follow the decision evaluation process, we listen in on our emotions and use that information to make choices. Making choices more effectively: systematically evaluate alternatives against relevant factors, be aware of emotions on decision preferences and evaluate process, scenario planning. Evaluating decisions better: separate decision choosers from evaluators, establish a preset level to abandon the project, find sources of systematic and clear feedback.