Skip to Main Content
Fundamentals of Management, 11/e
book

Fundamentals of Management, 11/e

by Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
April 2015
Beginner content levelBeginner
480 pages
107h 32m
English
Pearson
Content preview from Fundamentals of Management, 11/e

Chapter Summary by Learning Outcome

  1. 4-1 Describe the decision-making process.

The decision-making process consists of eight steps: (1) identify a problem, (2) identify decision criteria, (3) weight the criteria, (4) develop alternatives, (5) analyze alternatives, (6) select alternative, (7) implement alternative, and (8) evaluate decision effectiveness. As managers make decisions, they may use heuristics to simplify the process, which can lead to errors and biases in their decision making. The 13 common decision-making errors and biases include overconfidence, immediate gratification, anchoring, selective perception, confirmation, framing, availability, representation, randomness, sunk costs, self-serving bias, hindsight, and revision bias. ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

SHRM Society for Human Resource Management Complete Study Guide

SHRM Society for Human Resource Management Complete Study Guide

Sandra M. Reed
Management, 13e

Management, 13e

Stephen P. Robbins, Mary Coulter
Management, 11th Edition

Management, 11th Edition

John R. Schermerhorn Jr.
Management, 12th Edition

Management, 12th Edition

John R. Schermerhorn Jr.

Publisher Resources

ISBN: 9780135175156