Question

Describe a time when you fell into one of the decision-making traps (Overconfidence Bias,. Framing Bias, Anchoring Adjustment Bias etc.). How did you come to realize that you had made a poor decision, or at least not an optimal decision? In writing your main response, describe which decision-making trap is involved in your example, and write a definition in your own words of what that trap consists of. Add a final reflection in your main response to address which of the traps seems the most dangerous for decision makers, and why.

Answer 1

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Describe a time when you fell into one of the decision-making traps (Overconfidence Bias,. Framing Bias, Anchoring Adjustment Bias etc.). How did you come to realize that you had made a poor decision, or at least not an optimal decision? In writing your main response, describe which decision-making trap is involved in your example, and write a definition in your own words of what that trap consists of. Add a final reflection in your main response to address which of the traps seems the most dangerous for decision makers, and why.

One decision-making trap which I faced is Adopting to Change Management in my work place.Change management is a procedure performed by an HR department that helps them to handle the employees when the structure of the company needs to change. Their role is to allow employees to be liberated from fear of change and to make it possible for them to work as smoothly as possible in their core processes. Therefore, change management is needed in a organization so that all potential errors and factors that could cause productivity losses in organization operations can be effectively mitigated.

Speculation and speculation, and a lack of trust will make it difficult for workers to accept change, in particular, if they are uninformed about what they need. Workers must be conscious of what is happening because instability can annoy the workers. It's one of the most daunting aspects of any transition to let our current state go. One reason why organizational change does not succeed is the lack of leadership in this critical phase. The good news is that we can do stuff to help let go.

This would result in anxiety and resistance to improvements in the minds of workers if the side of the public were not treated. When this occurs, management can find it increasingly difficult to solve this issue effectively. In fact, a resistance to change causes the organization to lose its efficiency and does not allow it to produce the best possible outcome of which the change is to be anticipated.

Sooner or later I realised that Change is happening in my organization. Every day, new initiatives and projects are launched to improve performance, increase profits, and enhance your competitive advantage. This could be implementing technology to enable a more mobile workforce, reengineering a process to ensure regulatory compliance or pursuing an enterprise-wide transformation around customer experience.

Any business in today's fast-moving environment that is looking for the pace of change to slow is likely to be sorely disappointed. In fact, businesses should embrace change. Change is important for any organization because, without change, businesses would likely lose their competitive edge and fail to meet the needs of what most hope to be a growing base of loyal customers.

Without change, business leaders still would be dictating correspondence to secretaries, editing their words and sending them back to the drawing board, wasting time for all involved. Change that results from the adoption of new technology is common in most organizations inclusing mine and while it can be disruptive at first, ultimately the change tends to increase productivity and service Technology also has affected how we communicate.

Change is important in organizations allows employees to learn new skills, explore new opportunities and exercise their creativity in ways that ultimately benefit the organization through new ideas and increased commitment. This will lead Preparing employees to deal with these changes involves an analysis of the tools and training required to help them learn new skills.

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