1
Q
decision-making styles
A
rational and intuitive
2
Q
rational decision making
A
objective criteria / define the problem
3
Q
intuitive decision making
A
based on experience, feelings and accumulated judgement
gut feeling over cognitive problem solving
4
Q
decision making process
A
identify problem
identify decision criteria
allocate weights to criteria
develop alternatives
analyze alternatives
select an alternative
implement an alternative
evaluate effectiveness
5
Q
biases that lead to errors in decision making
A
overconfidence
immediate gratification
anchoring effect
selective perception
confirmation
framing
availability
representation
randomness
sunk costs
self serving
hindsight
overconfidence
6
Q
A
busn
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