Your manager is concerned and wants to make sure that you learned from this mistake and the likelihood of this happening in the future is minimal. Therefore she would like you to email her a reflective analysis about that decision. Be sure to address the following in your analysis:
Describe the decision, the negative consequences of the decision, and its relative importance to you as the decision maker.
Identify three of the theories associated with this unit's resources and readings to illustrate your decision making process.
Compare and contrast your understanding of judgment and/or decision making using the three theories you identified in part 2.
What does your analysis imply about our understanding of how we make judgments and decisions?
How will your analysis of this decision help you to make better decisions in the future?
Wouldn't this depend on the texts and the readings?
Focus on risks, probabilities, expected value of outcomes, and the analysis thereof.
Please note that we don't do students' homework for them.
Once you have come up with YOUR responses to these questions, please re-post and let us know what you think. Then someone here will be happy to critique your work.
=)
Certainly! While the specifics of the email may depend on the specific texts and readings you have covered in your course, I can provide you with a general guide on how to approach each question in your analysis:
1. Describe the decision, the negative consequences of the decision, and its relative importance to you as the decision-maker:
Start by providing a clear description of the decision you made. Explain the context, factors involved, and the options available. Then, discuss the negative consequences that arose from your decision, such as financial loss, wasted time, damaged relationships, or missed opportunities. Reflect on the relative importance of this decision in terms of its impact on you personally, your team, or the organization.
2. Identify three theories associated with this unit's resources and readings to illustrate your decision-making process:
Review the resources and readings provided during this unit and select three theories that are relevant to your decision-making process. These theories could include but are not limited to prospect theory, bounded rationality, social influence, or cognitive biases. Explain each theory briefly and relate its key principles to your decision-making process.
3. Compare and contrast your understanding of judgment and/or decision making using the three theories you identified in part 2:
In this section, analyze how each theory influenced your decision-making process. Compare and contrast the key elements, concepts, or principles of each theory and explain how they either aligned with or conflicted with your decision-making approach. Discuss any insights gained from applying these theories to your decision.
4. What does your analysis imply about our understanding of how we make judgments and decisions?
Step back and reflect on what your analysis reveals about the overall understanding of how individuals make judgments and decisions. Consider the limitations and strengths of the theories you discussed, and comment on whether they provide a comprehensive understanding of the decision-making process. Reflect on any gaps or areas where further research or understanding is needed.
5. How will your analysis of this decision help you to make better decisions in the future?
Discuss how your reflective analysis of this decision will contribute to your growth as a decision-maker. Identify the lessons learned and insights gained from using the theories in your analysis. Explain how this newfound knowledge will inform your future decision-making processes, influencing your approach, considering risks, probabilities, expected values, and the analysis thereof.
Remember to incorporate personal examples, experiences, and critical thinking throughout your analysis. Tailor your explanations to demonstrate your grasp of the concepts and their application in your decision-making process.