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Flashcards in Final Exam Deck (149)
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1

Carter Racing

Proves the faults of group decision making - there was a sense of comp and time pressure leading to a decision on inconclusive data

2

Groupthink

wanting unanimity overrides motivation to realistically appraise alternatives

3

Contributing Factors to Groupthink

Structural and procedural flaws (hire from the same place, no contribution processes), cohesiveness (unfamiliar = more reserved, high = open and honest), proactive situational context (high pressure and time)

4

Symptoms of Groupthink

- Illusion of invulnerability (overconfident, supporting each other)
- Assumption of morality ( group believes it is VERY right, owe it to others)
- Rationalization (counter arguments get explained away)
- Stereotyping outgroups (not seeking other experts)
- Self-censorship (awkward to disagree so no one speaks up)
- Illusion of unanimity
- MIndguarding - (protecting group from info/people/factors that goes against the decision-limit or filter access to information)
Pressuring dissenter (people who disagree)

5

Symptoms of bad decision making

incomplete assessment of alternatives or objectives, rail to examine risks or reexamine alt., poor info search, selective bias in processing info, falure to create a contingency plan

6

How to avoid groupthink

Devils advocate, outsiders (unbiased, no stake), avoid being directive (especially leaders), generate comprehensive alternatives, search for info to determine quality of decision, examine pros and cons of alt, examine costs/benefits/risks, monitor results and react if risks happen

7

Why use group decisions

- Higher decision quality (more people/knowledge/ideas/evaluation),
- decision acceptance and commitment (they want to be involved if it affects them, will understand/be committed to/support a decision they participated in)
- Diffusion of responsibility (for poor decisions)

8

When is group performance best

With varying skills and abilities, division of labour can occur, need lots of memory for facts, judgments acan be combined

9

Disadvantages of group decision making

time, cost, conflict, domination, groupthink

10

Risky Shift

tendency for groups to make riskier decisions than the individual average risk that was advocated by members

11

Conservative shift

tendency for more conservative decisions than on their own

12

How does groups affect individual opinions

polarize/exaggerate the initial positioning of members

13

Contempory Approach to Improving Decision Making

Evidence based management, crowdsourcing, analytics and big data

14

Evidence based management

using peer-reviewed research, experts, professionals

15

Crowdsourcing

outsourcing aspects of decision making to large collection of people (may not have all the info/knowledge)

16

Analytics and Big data

Analytics (patterns in data) and Big Data (lots of info from variety of sources)
Ex. moneyball, netflix recommendations

17

Negotiation preparation

Assessment of self, opponent, and the situation

18

Self assesment for negotiation

Target (have SMART goals), know BATNA, multiple offers (social proof phenomennon - must be a reason everyone wants you), reservation point (lowest value you will accept)

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BATNA

Best Alternative To a Negotiated Agreement

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Reservation point

lowest value you will accept before walking away

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Negotiation Bargaining Zone

The opposing reservation points

22

Assessment of opponent for negotiation

Know their position (what they say want) and their interests (what they actually want), and their BATNA

23

Assess the situation for negotiation

Is it an ongoing relationship, is an agreement required or could you walk away

24

Distributive Negotiation

Less overall vallue (fixed pie - win/lose)

25

Distributive Strategies

- Threats (subtle and civilized - better if one has more power and one time thing)
- Promises (you do this, they will give you something later)
- Firmness (stating terms and not budging)
- Concessions (if you do you will get in return)
- Persuasion

26

Distributive Persuasion

- Expert: credible (gets buy in, can respond to objections)
- Likeable: their gaurd down, easy to influence
- Unbiased: history of being forthright/consider all interests
What?
- Technical merit (good track record)
- Appeals to fairness (justify your ask)

27

Integrative Negotiation

more overall value (expand the pie)

28

Integrative Strategies

- Share information (not res. point)
- Ask questions/listen
- Frame differences as opportunities
- Cut the costs (for your suggestions - make a plan for them)
- Increase resources (by workng together)
- Add issues for package deals
- Superordinate goals

29

Superordinate goals

Overarching goals that require cooperation

30

Basking in reflected glory

Feelings about self are influenced by group affiliation - team wins/loses feel like personal wins/losses