In order for leaders to make decisions under risk or uncertainty, they need think about the risk involve when making their decisions. There are certain simple rules that leaders should think about when making decisions that have levels of risk and uncertainty. Levels of risk happen when a leader has to reach a decision where the result is unknown. With circumstances of risk, the leader will create a list with all potential results and give likelihoods to each result. Uncertainty is when a leader is not able to come up with a list that contains all potential outcomes or they simply are not able to give probabilities to those outcomes. As stated in the Holy Bible, Ecclesiastes 11:1-3, “Cast your bread upon the waters, for you will find it after many days. Give a portion to seven, or even to eight, for you know not what disaster may happen on earth. If the clouds are full of rain, they empty themselves on the earth, and if a tree falls to the south or to the north, in the place where the tree falls, there it will lie.” In this paper I will discuss the decision making rules associated w...
Uncertainty in organizations is a key element to be dealt with in the areas of technology, rules and rituals (Hofstede, 1980). The notion of uncertainty is frequently connected to the perception of environment as the ‘environment is taken to include everything not under direct control of the organization as a source of uncertainty for which the organization tries to compensate’ (Hofstede, 1980: 155). The organization deals with uncertainty in the way in which uncertainties are observed inside the business. According to Torrington, uncertainty avoidance is the degree to which the future is always unknown (1994). Some cultures socialize their participants to accept this idea and take risks. Whereas members of other cultures have been socialized to be made worried or threatened by this and therefore, search for reparation through the ‘security of law, religion or technology’. (Torrington, 1994:
in every choice we make and our outcomes depend on our choices. Not too long ago, our preacher
Tests and decisions are as numerous in any man's life as are the beats of his heart. The consequences follow him forever - he is judged by them and they affect his entire existence. However, judgement should not be passed on a man's single decisions individually, but only by observing how he has chosen to live his life.
prudence, justice, fortitude, and temperance are vital facets in the decision-making process. Prudence affects moral judgment, sensitivity, and intention. It is concerned with the knowledge and practical wisdom. Justice, on the other hand, refers to the permanent attitude to perform what is fair. Another virtue; temperance refers to the desire to pursue what is just while avoiding dangerous undertakings. The fortitude virtue then controls the passions of humans like despair, fear, anger, audacity, and hope. All these elements affect both individual and organizational factors of ethical decision-making (Cabello-Medina,
A disturbing thought about man’s ethical barometer is that most of the theories, categories and principles emanate from the point of man’s reason. There is a cause to shudder at the thought of man as the absolute authority of what is right and wrong; what is ethical and what is not. Born into a sinful nature, man will ultimately make decisions that will lead to a moral philosophy that is shaky at best. Even philosophers with the best of intentions fall short to God’s model for the order, organization, and meting out of ethical actions. Because of man’s finite vision of what should be done to improve the present situation, mankind will always be found lacking in making the best ethical decisions; not being able to see the long term outcome and the impact those decisions and actions would have on others in the world.
Making decisions is a routine in our daily lives, these actions contribute to how we operate in our society. “Why did history take such different evolutionary courses for people of different continents?” was the question that fascinated Diamond to reveal the patterns of human history. According to the professor of Geography at the University of California Los Angeles, Jared Diamond, in his article “Why do some societies make disastrous decisions?” he describes the factors in failures we commit that have led to societal collapses by breaking it down as a road map. The author makes a strong suggest that “First a group may fail to anticipate a problem before the problem actually arrives. Secondly, when the problem arrives, the group may fail to perceive the problem. Then, after they perceive the problem, they may fail even to try to solve the problem.
the lottery. The second is of a person who spends his life savings on a
The world we live in is overflowing with choices and chances. Every day, each and every human must make thousands of decisions. Some decisions may be rather simple to make, or not present a high chance for an unfavorable outcome. While one may decide the apple they picked up from the store is not very sweet, the cost lost on the apple is rather minimal and the consumer will most likely be presented with many more opportunities to pick a delicious apple. However, some choices are much more complicated. Decisions such as where to invest one’s money, or what physical challenges to endure, present very serious consequences. If the wrong decision is made, one could lose their financial security, or even their life.
Individuals make economic decision based on a variety of reasons. The rational is based on each individual’s need or desire for a commodity. People go through several decision-making processes before making the final decision and are often not conscious of the process. Obviously, decision- making covers a wide area, involving virtually the whole of human action. Often people are not conscious of the process.
An employee does an unsatisfactory job on an assigned project. Explain the attribution process that this person's manager will use to form judgments about this employee's job performance.
Ward (2005) points out that different people have different viewpoints about risks and uncertainties. Some people point out that risk not only can increase an uncertainty thereby causing the difficulty of adverse effect but also can create the higher level of uncertainty thus resulting in the increase in the complexity. In terms of uncertainty, it can be classified into tw...
Risk taking is by its very nature a challenging and intimidating process. An organization may say it wants risk takers to lead their organization to find out their definition of risk taking is much different from the one in a leadership position. The core mission of the organization is the determinant as to the type and characteristics of the risk taken. A school with a mission to graduate drop out recovery students would most likely not want a leader who implements traditional instructional methods and curriculum; it is one of the determining factors of failure for the students. Placing students in positions to succeed requires commitment to accomplishing what previously did not. Curriculum that is non-traditional; instructional methods that differentiate from those normally implemented, and collaboration with peers that test what works is significant to risk measurement and attainment in a high-risk environment. The answer is the one that achieves the mission; all ideas and concepts presented and thoroughly vetted will distinguish success and failure. A comfort level in risk taking is endemic in schools that experience their definition of success. By comfort level, it is the level of risk measured against the achievement of the academic program. The community has an active role in determining the risk schools will attempt; conservative communities are less likely to attempt change that affects what they all ready perceive to be achievement, whereas, progressive communities will achieve change through risk that is seen as radical or trend setting. The core values, or the beliefs and systems held by the community and school, also dictate the academic risk taking in a school. Beliefs held by a community are difficult to change; whi...
Making decisions is an important part of our everyday life. Decisions define actions and lead to the achievement of goals. However, these depend on the effectiveness of the decision-making process. An effective decision is free from biases, uncertainties, and is deeply dependent on information and critical thinking. Poor decisions lead to the inability to achieve set objectives and could lead to losses, if finance is a factor. Therefore, it is important to contemplate about quality and ways to achieve it in decision-making, which is the focus of this paper. The purpose is to look into the needs of decision-making, including what one should do and what one should not do.
Risk taking is considered an everyday staple of life and a major part of growing up. When we limit the risks we take in our lives we also limit the capabilities those risks present, such as encountering new experiences and situations that improve us as human beings. Risk taking is imperative to personal growth and when discussed in good context it seems harmless, however that is only a half truth. To say risk taking is always safe is completely incorrect and sometimes these risks are often unsafe and not thought out. This essay addresses the following question, why do teenagers engage in this form of unhealthy risk taking? I will also be discussing whether or not certain groups are more at risk and any known strategies to make teenagers aware
In the human mind there are many things that go into decision-making every single day. The strong impetus that drive one’s decision in a situation: certainty and doubt. These feelings that people often have are connected very closely. It would be extremely beneficial for each and every person to be certain in all situations. Both certainty and doubt can be, and have been, the deciding factor in reaching a goal or failing in reaching it. Doubt in oneself oftentimes leads to lack of certainty, and a lack of certainty brings about doubt, and this relationship is key to success or failure in all walks of life. Both certainty and doubt are extremely forceful elements that often alter decision-making and play a huge role in people’s lives and history,