BUSI 2101 Lecture Notes - Lecture 9: Environmentalism, Groupthink, Satisficing
23 Jan 2018
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Document Summary
Groupthink refers to the tendency for members of a highly cohesive group to seek consensus so strongly that they fail to do a realistic appraisal of other alternatives, which maybe more correct. Heuristics are rules of thumb based on past experience that managers use to simplify decision making: garbage can. The garbage can model assumes that decision making is haphazard, chaotic, unpredictable, and sometimes depends on sheer luck. Four factors: problems, participants, solutions, choice opportunities. Structured problems are repetitive and routine problems for which a definite procedure has been developed. Unstructured problems are novel, and no procedures have been developed to handle them because they occur infrequently and/or are very complex. Values core beliefs or desires that determine attitudes and actions. Ethics standards of conduct that indicate how one should behave based on moral duties and virtues arising from principles about right and wrong. Value congruence shared systems of values between two entities.
