Identify the risks and the potential decision biases

Assignment Help Marketing Management
Reference no: EM13746762

Assignment: Decision Making Gone Awry Sometimes social influences and societal pressures can influence decision making for the better and sometimes for the worse. In addition to these pressures, there are risks that need to be evaluated and measured when making decisions.

In this assignment, you will reflect on decisions you made using social influence, persuasion, and risk taking that went awry.

Examine a time when you were involved in decision making that went awry as a result of protocols, social norms, or persuasive techniques. If you do not want to use an example from your business or personal experience, you can select a journal article on which you can base your assignment. Here are some key words to help you find an article for this assignment: Decision making Risk taking Persuasion Social heuristics Write a 3-5-page paper in Word format that addresses the following:

Describe a decision-making scenario using your business experience, personal decision making or cited journal article; include an example of the decision-making process, describe the risk, and whether persuasion was used. What were the social heuristics?

Explain the incentives in this scenario. Were they effective? Identify the risks and the potential decision biases in your scenario. Propose the corrective steps that should have been taken to overcome these biases. If a risk assessment was conducted how did this affect the decision-making process?

Analyze your scenario for what happened in terms of social heuristics. Explain how decisions were made and the social factors that shaped the decision-making environment.

Discuss the greatest challenges to sound decision-making in your scenario. Critique the decision-making process used by the sponsor(s) and leader(s) of the decision.

Identify the mistakes made by the sponsor(s), leader(s), and team members or others impacted by the decision during the implementation of the decision.

Support your statements with scholarly references and appropriate examples. Apply APA standards to citation of sources.

Reference no: EM13746762

Questions Cloud

Discussion-behavioral heuristics : Discussion-Behavioral Heuristics such as availability, anchoring, vividness, storage, conjunction fallacy, and representativeness, all reflect behavioral traits, which if left unchecked may lead to systematic bias in the choices you make
Difference between hearing and listening : What's the difference between hearing and listening? Do you prefer email, voice mail, texting, or talking to a live person? Are things changing?
Management of current assets and current liabilities : The management of current assets and current liabilities in the short run can lead to several challenges for the financial manager.
Project on cost of capital : Assume that you are a member of an aerospace company's newly formed executive committee that has been given the role of reviewing requests for major capital expenditures.
Identify the risks and the potential decision biases : Identify the risks and the potential decision biases in your scenario. Propose the corrective steps that should have been taken to overcome these biases. If a risk assessment was conducted how did this affect the decision-making process
Airvalue airways strategic planning : Airvalue Airways is a regional carrier whose strategy is to expand gradually as they can identify routes that offer an attractive return on the investment necessary to support successful coverage of the route.
Ethical implications of financial decisions : Based on your own experience and knowledge, develop conclusions and explain the ethical implications of financial decisions within an organization. You may need to do additional research on the implications of using insider information (for exampl..
Why the civil war a second revolution in the united states : Some have called the Civil War a second Revolution in the United States. Providing two detailed examples, explain why or why not this statement is accurate.
Case on eco plastics company : Since its inception, Eco Plastics Company has been revolutionizing plastic and trying to do its part to save the environment. Eoc s founder, Marion Cosby, developed a biodegradable plastic that her company is marketing to manufacturing companies t..

Reviews

Write a Review

Marketing Management Questions & Answers

  Discuss your overall impression of the companys financial

now that you have learned about the basic concepts and the need for marketing in todays changing environment select an

  Discuss the impact of marketing strategy on profit in 2

discuss the impact of marketing strategy on profit in 2 business.1.tesco company2.asda company and this is uk

  Investigate and identify their import barriers

This project is to study the U.S. foreign trade practices with its major trading partners and to investigate and identify their import barriers against the United States' exports to these countries

  Explain many entrepreneurial organizations have established

Explain Many entrepreneurial organizations have established partners and Many entrepreneurial organizations have established partnerships in other countries

  What are your thoughts regarding the pursuit

As CEO of your company, what are your thoughts regarding the pursuit of a localization strategy and As CEO of a company in a mature industry what are your thoughts as to strategies to deter entry of new competitors

  Marketing theories for assignment

Build awareness for Haigh's Chocolate and to increase brand recognition for Haigh's Chocolate - marketing theories for this assignment.

  Explain it infrastructure related to electronic business

Explain IT infrastructure related to electronic business and explain your understanding of what comprises the IT infrastructure related to electronic business

  Identify the circumstances surrounding each issue classify

conduct an internal and external environmental analysis for your proposed business.create a swott table summarizing

  Select a purchase you have made recently and describe in

write a 700- to 1050-word paper in which you relate consumer behavior to marketing. in your paper address the

  Explain the difference between informational and descriptive

In your own words, explain the difference between informational and descriptive abstracts and discuss the qualities of a good abstract

  Imagine that you are the owner of a small business you have

imagine that you are the owner of a small business. you have developed a marketing communications plan.nbsp explain the

  Compare the advantages and disadvantages of the survey to

1 nbsp compare the advantages and disadvantages of the survey to those of observation. under which circumstances could

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd