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Study Guide - Exam 2

Page 5: Diversity

  • Definition of Diversity

    • Identity-based differences among individuals affecting their roles as applicants, employees, and customers.

  • Types of Diversity

    1. Surface Level

      • Visible characteristics (e.g., race, ethnicity, gender).

    2. Deep Level

      • Non-observable characteristics (e.g., stress, motivation, culture, abilities).

    3. Hidden Diversity

      • Characteristics not immediately visible (e.g., sexual orientation).

  • Example of Diversity

    • Halle's team showcases surface-level diversity with varied ages, ethnicities, and a balanced gender mix.

  • Advantages of Diversity (Ch 5.3)

    • Cost Advantage

      • Reduces discrimination lawsuits.

    • Resource Acquisition

      • Women and minorities show higher job pursuit intentions.

    • Marketing

      • Insights from diverse demographics enhance product/service feedback.

    • System Flexibility

      • Improves interaction with diverse attitudes and beliefs.

    • Creativity

      • Diverse perspectives lead to more problem-solving options.

    • Problem Solving

      • Helps prevent groupthink.

  • Definition of Groupthink

    • Dysfunctional decision-making in homogeneous groups due to conformity pressures.

Page 6: Decision Making

  • Definition of Decision Making

    • The process of evaluating options and selecting one.

  • Types of Decisions

    • Programmed Decisions

      • Repeated decisions guided by established rules.

    • Nonprogrammed Decisions

      • Novel, unstructured decisions based on poorly defined criteria.

  • Six Steps in the Decision-Making Process

    1. Recognize the need for a decision.

    2. Generate alternatives.

    3. Analyze alternatives.

    4. Select an alternative.

    5. Implement the selected alternative.

    6. Evaluate its effectiveness.

Page 7: Core Elements of Great Decisions

  • Eight Core Elements

    • Consideration of diverse viewpoints.

    • Accountability of decision-makers.

    • Proximity to action.

    • Addressing root causes.

    • Holistic impact consideration.

    • Balancing short-term and long-term values.

    • Effective communication with stakeholders.

    • Timeliness of decisions.

Page 8: Reasons for Bad Decisions

  • Common Reasons

    • Bounded Rationality

      • Limited understanding of alternatives and implications.

    • Escalation of Commitment

      • Sticking to poor decisions despite negative outcomes.

    • Faulty Perceptions

      • Biases in information processing.

    • Faulty Attribution

      • Misinterpretation of actions and events.

  • Seven Strategies for Better Group Decision Making

    • Keep groups small for important decisions.

    • Favor heterogeneous groups.

    • Appoint a strategic dissenter.

    • Collect independent opinions.

    • Create a safe space for expression.

    • Avoid over-reliance on experts.

    • Share collective responsibility.

  • Perception Biases Examples

    • Selective Perception

      • Noticing only consistent information (e.g., assuming older people are bad at technology).

    • Projection Bias

      • Assuming others share the same preferences (e.g., everyone prefers organic food).

    • Social Identity Theory

      • Grouping based on shared characteristics (e.g., same majors).

    • Stereotyping

      • Generalizing based on group membership (e.g., Asians are good at math).

    • Framing

      • Influencing perception through phrasing.

Page 9: Attribution Biases

  • Fundamental Attribution Error

    • Attributing others' behaviors to internal factors.

  • Self-Serving Bias

    • Attributing personal failures to external factors and successes to internal factors.

Page 11: Teams

  • Definition of Group

    • A collection of individuals sharing common norms and roles.

  • Five Aspects of Group Structure

    • Work roles, group norms, social cohesiveness, status systems, and psychological safety.

  • Psychological Safety

    • A shared belief that it’s safe to express ideas and concerns without fear of negative consequences.

Page 12: Great Decisions

  • Key Elements of Great Decisions

    • Accountability, holistic impact, balance of values, effective communication, and timeliness.

  • Reasons for Bad Decisions

    • Bounded rationality, escalation of commitment, faulty perceptions, and faulty attribution.

  • Strategies for Better Group Decision Making

    • Keep groups small, choose diverse groups, appoint dissenters, collect independent opinions, ensure a safe space, avoid over-reliance on experts, and share responsibility.

Page 13: Additional Biases

  • Perception Biases

    • Selective Perception

      • Noticing only what aligns with expectations.

    • Projection Bias

      • Assuming others think and feel the same way.

    • Social Identity Theory

      • Grouping based on shared identities.

    • Stereotyping

      • Making assumptions based on group membership.

    • Framing

      • The impact of phrasing on perception.

  • Attribution Biases

    • Fundamental Attribution Error

      • Misjudging others' behaviors.

    • Self-Serving Bias

      • Misat

EV

mgmt

Study Guide - Exam 2

Page 5: Diversity

  • Definition of Diversity

    • Identity-based differences among individuals affecting their roles as applicants, employees, and customers.

  • Types of Diversity

    1. Surface Level

      • Visible characteristics (e.g., race, ethnicity, gender).

    2. Deep Level

      • Non-observable characteristics (e.g., stress, motivation, culture, abilities).

    3. Hidden Diversity

      • Characteristics not immediately visible (e.g., sexual orientation).

  • Example of Diversity

    • Halle's team showcases surface-level diversity with varied ages, ethnicities, and a balanced gender mix.

  • Advantages of Diversity (Ch 5.3)

    • Cost Advantage

      • Reduces discrimination lawsuits.

    • Resource Acquisition

      • Women and minorities show higher job pursuit intentions.

    • Marketing

      • Insights from diverse demographics enhance product/service feedback.

    • System Flexibility

      • Improves interaction with diverse attitudes and beliefs.

    • Creativity

      • Diverse perspectives lead to more problem-solving options.

    • Problem Solving

      • Helps prevent groupthink.

  • Definition of Groupthink

    • Dysfunctional decision-making in homogeneous groups due to conformity pressures.

Page 6: Decision Making

  • Definition of Decision Making

    • The process of evaluating options and selecting one.

  • Types of Decisions

    • Programmed Decisions

      • Repeated decisions guided by established rules.

    • Nonprogrammed Decisions

      • Novel, unstructured decisions based on poorly defined criteria.

  • Six Steps in the Decision-Making Process

    1. Recognize the need for a decision.

    2. Generate alternatives.

    3. Analyze alternatives.

    4. Select an alternative.

    5. Implement the selected alternative.

    6. Evaluate its effectiveness.

Page 7: Core Elements of Great Decisions

  • Eight Core Elements

    • Consideration of diverse viewpoints.

    • Accountability of decision-makers.

    • Proximity to action.

    • Addressing root causes.

    • Holistic impact consideration.

    • Balancing short-term and long-term values.

    • Effective communication with stakeholders.

    • Timeliness of decisions.

Page 8: Reasons for Bad Decisions

  • Common Reasons

    • Bounded Rationality

      • Limited understanding of alternatives and implications.

    • Escalation of Commitment

      • Sticking to poor decisions despite negative outcomes.

    • Faulty Perceptions

      • Biases in information processing.

    • Faulty Attribution

      • Misinterpretation of actions and events.

  • Seven Strategies for Better Group Decision Making

    • Keep groups small for important decisions.

    • Favor heterogeneous groups.

    • Appoint a strategic dissenter.

    • Collect independent opinions.

    • Create a safe space for expression.

    • Avoid over-reliance on experts.

    • Share collective responsibility.

  • Perception Biases Examples

    • Selective Perception

      • Noticing only consistent information (e.g., assuming older people are bad at technology).

    • Projection Bias

      • Assuming others share the same preferences (e.g., everyone prefers organic food).

    • Social Identity Theory

      • Grouping based on shared characteristics (e.g., same majors).

    • Stereotyping

      • Generalizing based on group membership (e.g., Asians are good at math).

    • Framing

      • Influencing perception through phrasing.

Page 9: Attribution Biases

  • Fundamental Attribution Error

    • Attributing others' behaviors to internal factors.

  • Self-Serving Bias

    • Attributing personal failures to external factors and successes to internal factors.

Page 11: Teams

  • Definition of Group

    • A collection of individuals sharing common norms and roles.

  • Five Aspects of Group Structure

    • Work roles, group norms, social cohesiveness, status systems, and psychological safety.

  • Psychological Safety

    • A shared belief that it’s safe to express ideas and concerns without fear of negative consequences.

Page 12: Great Decisions

  • Key Elements of Great Decisions

    • Accountability, holistic impact, balance of values, effective communication, and timeliness.

  • Reasons for Bad Decisions

    • Bounded rationality, escalation of commitment, faulty perceptions, and faulty attribution.

  • Strategies for Better Group Decision Making

    • Keep groups small, choose diverse groups, appoint dissenters, collect independent opinions, ensure a safe space, avoid over-reliance on experts, and share responsibility.

Page 13: Additional Biases

  • Perception Biases

    • Selective Perception

      • Noticing only what aligns with expectations.

    • Projection Bias

      • Assuming others think and feel the same way.

    • Social Identity Theory

      • Grouping based on shared identities.

    • Stereotyping

      • Making assumptions based on group membership.

    • Framing

      • The impact of phrasing on perception.

  • Attribution Biases

    • Fundamental Attribution Error

      • Misjudging others' behaviors.

    • Self-Serving Bias

      • Misat

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