BUS 201: Principles of Management - Textbook

Learning Objectives

• Describe the barriers to individual decision making and common styles of decision making
• Explain the concept of “rational decision making” and contrast it with prospect theory, bounded rationality, heuristics, and robust decisions
• Explain evidence-based decision making and its tools
• Describe the components and use of a decision tree
• Explain common techniques used to manage group decision making
• Understand the pitfalls of groupthink
• Understand the many influences impacting management decisions

• Read: Barriers to Individual Decision Making and Styles of Decision Making

• Read: Rational Decision Making vs. Other Types of Decision Making

• Read: Evidence-Based Decision Making

• Read: Using a Decision Tree

• Read: Managing Group Decision Making

• Assignment: Your Decision-Making Process

• Discussion: Could These Bad Decisions Have Been Avoided?

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