BBA102 Lecture Notes - Lecture 6: Groupthink, Brainstorming, Disneymania

• School: Macquarie University
• Department: Business Administration
• Course: BBA102
• Professor: Dr Alison Barnes

Document Summary

Even small errors in decision making can add up to have great costs in the future. Many things rest upon the ability of managers, employees, groups working together to make good decisions. Decision making process of identifying and choosing a course of action. Rational (traditional) decision making model premised on the assumption that mangers will make rational decisions. Step 1 identify the problem or opportunity. Step 3 evaluate alternatives and select a solution. Step 4 implement and evaluate the solution. Logical, unemotional analysis having no prejudices or emotional blind spots, you are able to logically evaluate the alternatives, ranking them from best to worst according to your personal preferences. Incremental model steps to accomplish short term rather than long term goals: satisficing model managers seek alternatives until they find one that is satisfactory, not optimal. Intuition making a choice without the use of conscious though or logical inference (sources are expertise and feelings)