Task1-
Question: Module 7 Discussion Forum
Explain the role of intuition in decision making.
Follow below rules to complete the assignment.
Within each module, there is a list of key terms. Each student will select one of the key terms and conduct a search of Campbellsville University’s online Library resources to find 1 recent peer reviewed article (within the past 3 years) that closely relate to the concept. Your submission must include the following information in the following format:
DEFINITION: a brief definition of the key term followed by the APA reference for the term; this does not count in the word requirement.
SUMMARY: Summarize the article in your own words- this should be in the 150-200-word range. Be sure to note the article's author, note their credentials and why we should put any weight behind his/her opinions, research or findings regarding the key term.
DISCUSSION: Using 300-350 words, write a brief discussion, in your own words of how the article relates to the selected chapter Key Term. A discussion is not rehashing what was already stated in the article, but the opportunity for you to add value by sharing your experiences, thoughts and opinions. This is the most important part of the assignment.
REFERENCES: All references must be listed at the bottom of the submission--in APA format. (continued) Be sure to use the headers in your submission to ensure that all aspects of the assignment are completed as required.
Any form of plagiarism, including cutting and pasting, will result in zero points for the entire assignment.
Material:
Supplemental Resources: https://www.youtube.com/watch?v=5geJSDqGIr4&feature=emb_logo
Reading Assignment
· Read Decision Making in Management
· Read Rational and Nonrational Decision Making
· Read Explain the Management Science Approach
· Watch The Garbage Can Model of Decision Making
· Watch Contingency Planning and Decision Making
· Read Considering Ethics in Decision Making
· Read Barriers to Decision Making
Task2:
Please provide comments/replies for below two discussions. Each comment/reply should be 150 words.
Classmate disc1:
by Amit Sharma - Monday, 20 April 2020, 8:33 PM
Explain the role of intuition in decision making
We can say that intuition has always played a very crucial role in the decision making processes in the organizations. The intuition can be described as a "non-sequential information processing mode" where judgments are made via cognition and emotions and building a relationship between the two. Two types of choices are there for individuals either to use intuition or a more deliberative decision-making style and vice a versa. Individuals choose one another method interchangeably and very naturally. (Sinclair, M., 2005). It all depends on their mood actually, if their mood is good they tend to go for intuitive style and if the mood is bad they gravitate toward more deliberative. It is very difficult and hardly proven by the researchers, the ways in which intuition .
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Task1-Question Module 7 Discussion ForumExplain the role of i.docx
1. Task1-
Question: Module 7 Discussion Forum
Explain the role of intuition in decision making.
Follow below rules to complete the assignment.
Within each module, there is a list of key terms. Each student
will select one of the key terms and conduct a search of
Campbellsville University’s online Library resources to find 1
recent peer reviewed article (within the past 3 years) that
closely relate to the concept. Your submission must include the
following information in the following format:
DEFINITION: a brief definition of the key term followed by the
APA reference for the term; this does not count in the word
requirement.
SUMMARY: Summarize the article in your own words- this
should be in the 150-200-word range. Be sure to note the
article's author, note their credentials and why we should put
any weight behind his/her opinions, research or findings
regarding the key term.
DISCUSSION: Using 300-350 words, write a brief discussion,
in your own words of how the article relates to the selected
chapter Key Term. A discussion is not rehashing what was
already stated in the article, but the opportunity for you to add
value by sharing your experiences, thoughts and opinions. This
is the most important part of the assignment.
REFERENCES: All references must be listed at the bottom of
the submission--in APA format. (continued) Be sure to use the
headers in your submission to ensure that all aspects of the
assignment are completed as required.
Any form of plagiarism, including cutting and pasting, will
result in zero points for the entire assignment.
Material:
Supplemental Resources:
2. https://www.youtube.com/watch?v=5geJSDqGIr4&feature=emb
_logo
Reading Assignment
· Read Decision Making in Management
· Read Rational and Nonrational Decision Making
· Read Explain the Management Science Approach
· Watch The Garbage Can Model of Decision Making
· Watch Contingency Planning and Decision Making
· Read Considering Ethics in Decision Making
· Read Barriers to Decision Making
Task2:
Please provide comments/replies for below two discussions.
Each comment/reply should be 150 words.
Classmate disc1:
by Amit Sharma - Monday, 20 April 2020, 8:33 PM
Explain the role of intuition in decision making
We can say that intuition has always played a very crucial role
in the decision making processes in the organizations. The
intuition can be described as a "non-sequential information
processing mode" where judgments are made via cognition and
emotions and building a relationship between the two. Two
types of choices are there for individuals either to use intuition
or a more deliberative decision-making style and vice a versa.
Individuals choose one another method interchangeably and
very naturally. (Sinclair, M., 2005). It all depends on their
mood actually, if their mood is good they tend to go for
intuitive style and if the mood is bad they gravitate toward more
deliberative. It is very difficult and hardly proven by the
researchers, the ways in which intuition influences the decision-
making process.
In an article, the author Bonnie Marcus has explained that as
per her experience decision-making is the biggest challenge
3. facing business leaders. Heuristic snap judgments are sometimes
identified as intuition. It is suggested to have the counsel of
coworkers when it comes to huge pressure for making decisions
fast in a tedious situation. But also, the interesting thing is that
making sound decisions the best and biggest resource is within
us only which is our intuition. (Bonnie Marcus, 2015). She
further has explained that they are always guided to leave
behind their emotions at home when it comes to making the
actual judgment. In the corporate world, there is hardly any
room for feelings and emotions when it comes to decision
making in businesses but after counseling everyone in the
organization and combining the collected facts and reviews the
ultimate thing is our gut is the overall best counsel. (Bonnie
Marcus, 2015).
There are two best challenges described by the author which
explain how difficult and tedious the decision-making process
is.
1) Level Of Organizational Complexity: In a very fast-paced
working environment or quickly establishing a business
decision-making process have interconnections all over from
different parts of an organization. Cognitive processing is really
a tough task for very composite situations. There have been
many research in neuroscience that proves that there is only a
limited amount of memories can be absorbed by a human mind.
Complex decision-making require all parts of the brain to work
simultaneously.
2) The level of Overthinking for Best Decision-Making: There
is a stage when leaders get tired of overthinking and enough is
enough. The data collected from all the resources and analyzing
that data to make the best out of it push the leaders to a level of
overthinking and after reaching at the peak of thinking they
have to stop it. At this level the input exceeds values and they
required to acquire more data. The overthinking tipping point
where the mind stops working is not considered as a
manipulated time but it generates a power of sense to wait more
4. because the results will be ultimately counterproductive.
References:
Bonnie Marcus. (Sep 1, 2015). Intuition Is An Essential
Leadership Tool. Retrieved
from: https://www.forbes.com/sites/bonniemarcus/2015/09/01/in
tuiton-is-an-essential-leadership-tool/#4750d4771c18
Marry E. Corrado. (June 26, 2018). Can Intuition Play a Role in
Effective Decision-Making?. Retrieved
from: https://www.aseonline.org/News/Articles/ArtMID/628/Art
icleID/1523/Can-Intuition-Play-a-Role-in-Effective-Decision-
Making
Sinclair, M. (2005). "Intuition: Myth or a Decision-making
Tool?" (PDF). Management Learning. 36 (3): 353–370.
Classmate disc2:
by Lokesh Ballani - Monday, 20 April 2020, 4:21 AM
Intuition can be defined as a mechanism of making decisions
bases rapid, recognition of non-conscious patterns and
associations to generate affectively charged judgments. Simply
put managers harnessing vast professional experience find
solutions to problems without being able to show how they have
achieved the end result.
There are three factors which directly influence the decisions
made through intuition which are:
1. Relying on the judgment: Managers make use of judgments
when quick decisions are to be taken, when there is insufficient
or incomplete data and when there is no prior example of the
same situation. This helps when managers are unable to identify
or analyze work process flows, hence limiting all computational
data (Georgios, 2017).
2. Relying of Experience: Managers make use of their
5. previous experiences based on knowledge process, products,
markets and consumer behavior. Intuition is also an ability
which is gained through experience.
3. Making use of “Gut Feeling”: One of intuition’s
characteristic process is decisions made on gut feeling. While
taking such decisions managers may be biased, and when the
decision turns to be a wrong one, they would not be able to
defend themselves rationally.
To make informed decisions while using intuitions where are
some guidelines which managers and organizations are
compelled to consider:
1. Make use of structured process if time permits.
2. Better listening of ideas of peers, board members, and
feedback from subordinates.
3. Reflecting on the decisions and its possible consequences
before implementation.
4. Distance yourself from any prejudice and all bias,
managers should take impartial approach to any decisions made
through intuition.
5. Make use of decision making games to simulate market
scenarios this helps in providing a risk free environment to
devise a strategy (decision-making-solutions.com, 2018).
6. Frequent market analysis, case studies and situation
assessments.
7. Managers should examine all beliefs and categorize them
into reliable evidences and facts.
References
decision-making-solutions.com. (2018). Intuitive Decision
Making
https://www.decision-making-
solutions.com/intuitive_decision_making.html
Georgios, M. (2017). The role of intuition in executive strategic
decision making. Retrieved from,
https://pdfs.semanticscholar.org/d669/4da0360ff9587fecfc20ddc
28c00527f3904.pdf
6. Article7: Decision-Making Processes
Question:
Pick one of the following terms for your research: bounded
rationality perspective, cognitive biases, decision learning,
devil’s advocate, groupthink, incremental decision model,
management science approach, nonprogrammed decisions,
rational approach, or satisficing.
Follow below rules to complete the assignment.
Within each module, there is a list of key terms. Each student
will select one of the key terms and conduct a search of
Campbellsville University’s online Library resources to find 1
recent peer reviewed article (within the past 3 years) that
closely relate to the concept. Your submission must include the
following information in the following format:
DEFINITION: a brief definition of the key term followed by the
APA reference for the term; this does not count in the word
requirement. ( I prefer above 40 words)
SUMMARY: Summarize the article in your own words- this
should be in the 150-200-word range. Be sure to note the
article's author, note their credentials and why we should put
any weight behind his/her opinions, research or findings
regarding the key term.
DISCUSSION: Using 300-350 words, write a brief discussion,
in your own words of how the article relates to the selected
chapter Key Term. A discussion is not rehashing what was
already stated in the article, but the opportunity for you to add
value by sharing your experiences, thoughts and opinions. This
is the most important part of the assignment.
REFERENCES: All references must be listed at the bottom of
the submission--in APA format. (continued) Be sure to use the
headers in your submission to ensure that all aspects of the
assignment are completed as required.
7. Any form of plagiarism, including cutting and pasting, will
result in zero points for the entire assignment.
Material:
Supplemental Resources:
https://www.youtube.com/watch?v=5geJSDqGIr4&feature=emb
_logo
Reading Assignment
· Read Decision Making in Management
· Read Rational and Nonrational Decision Making
· Read Explain the Management Science Approach
· Watch The Garbage Can Model of Decision Making
· Watch Contingency Planning and Decision Making
· Read Considering Ethics in Decision Making
· Read Barriers to Decision Making