DECISION MAKING READING/STUDY NOTES
For Mgt. 458 – Fall 2008 - Rex Mitchell
These notes are intended to assist you in focusing on important concepts about decision making. They particularly supplement and provide guidance on what to emphasize in your readings in the Williams (2002) book, plus some of the assigned readings from my web site. The class schedule outlines when each of the following numbered sections is particularly applicable to our work in class.
1. INTRODUCTION TO DECISION MAKING
* Read my Web module (A Basic Decision Making Model); study in detail, then read W. ch.1, p.1-3, 6-12, 16-19. Re the Williams pages, note:
* Many decisions don't require much thought or special effort
* Our primary focus is on improving the more complex, important decisions
* Creativity is important, in combination with critical thinking
* I have a major disagreement with the way Williams describes "rational decision making"
o He presents it as an extreme, abstract, unrealistic, never-used ideal (p.4-5, 13-15), which is why I don't recommend that you read those pages
o Everyone else in the field deals with rational decision making as a basic decision making process that is used to varying degrees of detail and thoroughness in various situations
* Description and example on p.5 (bottom) - 12 are OK
* p.16-19 are good, re bounded rationality and effective use of rational problem solving
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