This is a Capstone Project where the information from earlier assignments are Utilized (chapter 1-4,Intro to decision making,Models of Decision Making 7-9,Heuristics and Bias 10-16)that have been learned thus far.the study material up to this point has been"The Psychology of Judgment and Decision Making" Scott Plous.
For this assignment you will be preparing a presentation analyzing a single example of poor decision making. The presentation is intended to be delivered to other managers who make decisions similar to the one(s) that you are analyzing. Your goal is to help these managers "learn" from the example so they can avoid making the same mistakes.
To begin you will need to use the use the AIU Library, the Internet, and course resources to locate a single example (from business, news reports, government, economics, history, and so forth) where decisions made produced negative consequences.
Examples of the types of decisions you may choose from include: (you may use one of these or select one on your own)
Decision to allow the Challenger shuttle to fly in cold weather
Decision by Martha Stewart to lie to federal prosecutors
Decision by Coca-Cola to introduce "New Coke"
Decision by Enron executives to commit fraud
These are only a few examples. There are literally thousands of decisions you can choose from if you do a bit of research. Please do not analyze a personal decision. The decision you are analyzing must be supported by published resources.
The presentation should address each of the following:
PART 1 - A brief description of the decision being analyzed. Outline the situation (what happened, when, where), identify what decisions were made and why, who made them, and explain the negative consequences that resulted. The more detailed you are here the easier it will be for you to provide analysis for parts 2 & 3 of the project.
PART 2 - From our learning all semester (Units 1, 2, 3, & 4) identify what decision concepts (theories, principles, heuristics, traps, etc.) were present in the situation. For each concept identified be sure to provide information to support how and why you believe each was present. At a minimum you must identify at least one concept from each of the last 4 units of learning (the more concepts identified and supported the higher your grade).
PART 3 - Provide an overview focusing on what other managers, who make similar types of decisions, can learn from your analysis so they can become better decision makers.
This solution provides information to aid the student in detailing their own PowerPoint presentation. This solution is formatted in an attached PowerPoint presentation.