E-Journal Reflection Essay

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Decision making A cognitive, emotional, and neuropsychological process involving thoughts, feelings, and neurological functioning that results in making a judgment or choosing from alternatives. Programmed decisions Decisions that are routine in nature and occur with some frequency. Nonprogrammed decisions Decisions that are not routine and/or involve unique information or circumstances. Ex:- Buying a soda is a programmed decision, whereas buying a house is a nonprogrammed decision. Stereotypes Stereotypes are oversimplified ideas or beliefs that are particularly rigid and difficult to change. They often apply to people and are often destructive.When applied to people, stereotypes are simplified schemas that attribute a common set of characteristics to all members of a particular group. Halo effect The phenomenon in which we judge something or someone positively based on a previous positive experience or association with someone or something we admire. Intuition Tacit knowledge, or knowledge that we have access to at an unconscious level. EIGHT STEP DECISION MAKING MODEL:-Eight-Step Decision-Making Model Step 1: Identify the problem. Step 2: Establish the decision criteria. Step 3: Allocate weights to decision criteria. Step 4: List alternatives. Step 5: Analyze alternatives. Step 6: Choose an alternative. Step 7: Implement the decision. Step 8: Evaluate the decision. Satisficing Choosing an alternative that is adequate but not perfect. Bounded rationality An approach to decision making that accepts that all decisions are made under conditions or constraints that limit rationality. Information will never be complete or completely accurate. • We cannot always evaluate the quality of the information we get. • It is basically impossible for humans to rationally evaluate all information or all possible

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