Discuss six steps needed to achieve rational decision-making

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Reference no: EM132411225

Identify a decision you have made that had an impact on one person or multiple people. It may be something you experienced as a leader of a team or group, or it may be something from your family or personal life. Write a response that answers the three questions below.

- What was the decision?

- How did you make the decision?

- What is your evaluation of the decision?

must be at least 200 words in length.

1. Explain what boundaries are and why they are important in decision-making. (75 words)

2. Define System 1 and System 2 thinking. Explain how they are relevant to decision-making (75 words)

3. Explain what an alternative is and why it is important to decision-making. (75 words)

4. Describe the three forms of overconfidence, and give examples of how overconfidence has caused some bad historic decisions. (300 words)

5. Explain rational decision-making, and briefly discuss the six steps needed to achieve rational decision-making. (300 words)

Reference no: EM132411225

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