MOD 2

network

• relations or ties that can either strengthen or weaken its members

social network

• social structure made up of a set of social actors, sets of dyadic ties, and other social interactions between actors

networks are analyzed in terms of the following;

1. density

2. hierarchy

3. complexity

4. interdependence

5. embeddedness

density

• measured by the number of connection between actors

hierarchy

• actors can establish relations in other groups in the community rather than establish all of their relationships with members of one group

complexity

• extent to which a link between actors serves a multiplicity of interest in the community

interdependence

• refers to the dependence of 2 or more people on each other and promotes cooperation and creates social capital necessary for the progress of the community

embededness

• dependence of a phenomenon on its environment which may be defined alternatively in institutional, social, cognitive, or cultural terms

intution

• ability to understand something instinctively, without the need for conscious reasoning

heuristic

• aid to learning, discovery, or problem-solving by experimental and trial-and-error methods

types of heuristic

• satisficing

• risk aversion

• loss aversion

• availability

• affect

• association

• simulation

• similarity

• anchoring-and-adjustment

• satisficing

• satisfying and sufficing

• when the choice that is good enough to satisfy themselves

• risk aversion

• when we make decisions or judgments based on what we thing is a “sure thing”

• people naturally settle for a sure advantage or even disadvantage than to take risks to get a better advantage

• loss aversion

• places more weight to disadvantages than advantages in making decisions or judgements

• availability

• when our belief, that a related story or experience will happen again, affects our decision or judgement

affect

• “gut reaction” or “gut feeling”

• at work when it brings an immediate positive or negative emotional reaction to our decision or judgment

• association

• when we make decisions or judgement on the basis of what a word or an idea reminds us of

• simulation

• decisions or judgement on the basis of how we image various scenarios will happen

• similarity

• when decisions or judgement on the basis of a belief that what happened to someone else will happen to us as well

• anchoring-and-adjustment

• when a persons uses a specific target number or value as a starting point, known as an anchor, and then adjusts taht information until an acceptable value is reached over time.

strategic analysis

• SWOT Analysis (strengths, weakness, opportunity, threats)

• PEST Analysis (political, economic, social, technological)

• Cost benefit analysis (CBA)

• Cost effectiveness analysis (CEA)

SWOT analysis

• asses what an entity can and cannot do, for factors both internal and external

PEST analysis

• examines the effects of relevant external factors, or the macro environmental factors, on what is being decided on

Cost benefit

• calculates the stregnths and weaknesses of each alternative solutions given to a problem

cost effectiveness analysis

• compares the relative cost of the outcomes or relative effects of the course of action taken by a group or an organization