The Theory Of Decision Making - 1944 Words

In our everyday life we are in front of multiple decisions to take, from the easy ones as what coffee to get to the more complicated ones, as what jobs to apply for. The word ‘Decision’ originated from Latin word ‘de ciso’ which indicates ‘cutting off’. This implicates that the act of deciding is to come to a conclusion among different options. How many options are available though? Throughout the years, many behavioural scientists proposed different theories in order to explain how we face decisions and act before them. Do we calculate them all accurately before ‘cutting off’? One of the most recognized theories for decision making is the von Neumann- Morgenstern utility theorem (1944), which states that the decision-maker in front of all the different choices will behave as if he is maximizing the expected value of some function defined over the potential outcomes. Based on the expected utility, the von Neumann-Morgenstern model i s constructed upon the fundamental assumption that humans behave in a perfect rational way being able to calculate all the options and choosing among them the one that allows to maximize the expected utility. However, as the major critics to this model sustain, individuals are not fully rational when taking decisions. Their cognitive process is limited to the complexity of the environment in which they are taking decisions. The homo economicus is portrayed as capable of solving complex problems of optimization of resources allocation as well asShow MoreRelatedDecision Making And The Prospect Theory1490 Words   |  6 PagesIntroduction Decision making is the act of choosing the best solution to a problem depending on its value and the preferences of the decision maker. In the first part of this essay, we will explore the Expected Utility theory and the Prospect Theory, which are normative and descriptive approaches to making decisions with inherent risks. The first part of the essay argues that Expected Utility Theory is a less viable hypothesis to decision making and is fundamentally flawed compared to the ProspectRead MoreDecision Making Process Of The Theory Of Organization2038 Words   |  9 PagesDecision Making Decision making process is a way to get a final choice on achieving goals or solving problems among several alternatives. In classical theory of organization, it was believed that only top managers perform as the decision makers. It regards the employees as ‘instrument’ (March and Simon 1993). However, In Simon and March’s view (1993), employees are not just instrument, they are indeed rational people that think, act, and decide on their own in organizations. The decisions they madeRead MoreThe Theory Of Planning, Policy Formulation And Decision Making Essay981 Words   |  4 Pagesbeen neglected by authors (in the literature) for a long time. This long neglected method is contrasted with the Rational-Comprehensive (Root) method, which has been widely covered in the books (literatures) of planning, policy formulation and decision-making. The author examines and describes how some administrators approach complicated social problems as the root method fails when ap plied to difficult social problems because people have different views and sometimes they disagree on certain issuesRead MoreEthical Theories Are Used As Decision Making Tools836 Words   |  4 PagesIntroduction: Ethical theories in philosophy are used as decision making tools (Trevino p38), many theories with different frameworks with argument with and against. These theories are used to evaluate ethical dilemmas that we face on our day to day life, The Consequentialist approach: In the consequentialist theory; all what matters is the consequences, means do not have any importance as long the end result is achieved (Trevino p 40), and utilitarianism theory is may be the best known consequentialistRead MoreGame Theory : Essential Strategic Decision Making Essay1715 Words   |  7 PagesGame theory is essential in strategic decision making. It is a necessary tool or guideline needed for decision making in situations involving interdependence (Thomas Maurice, 2010). A time in which it was necessary and vital to make some strategic decisions was with the planning and coordinating of my wedding. Likewise, when my husband and I decided to get married, we both had different visions about how the planning process should take place in addition to the size of the budget. UnbeknownstRead MoreThe Theory Of Self Control And The Decision Making Systems1394 Words   |  6 PagesSome people argue that many unconscious decision-making systems such as reflexes, Proced ural, and Pavlovian are not a part of oneself. However, I would argue that these systems are definitely parts of oneself because of their correlation with the brain that brings about changes in the mind, and their neural basis that share some similarities with the deliberative system. Moreover, to claim that only a decision-making system that exerts self-control belongs to oneself is to overemphasize on self-controlRead MoreChad s Theory Of The Decision Making Process Essay948 Words   |  4 PagesChad continued to develop technically as his scope of responsibilities and the scale of his projects increased. He then focused on engagement, delegation, communication, and facilitated project completion by becoming an integral part of the decision-making process. Chad’s success in these endeavors earned the trust of his leadership as he became a trusted resource while establishing himself as a leader amongst his peers. Leadership and Communication Chad’s leadership was on display when he showedRead MoreThe Psychological Study Of Decision Making Began After Theories1306 Words   |  6 PagesThe Psychological study of decision making began after theories were introduced in order to understand an individual’s thought process when faced with decisions. The aim of these theories were to examine whether or not humans are rational decision makers by introducing probabilities and the evaluation of risk. This essay will evaluate The Expected Utility Theory, The Prospect Theory and other potential influences to decision making. As well as state both the strengths and weaknesses of them, in orderRead MoreGame Theory Is The Study Of Decision Making Under Competition1289 Words   |  6 PagesGame Theory is the study of decision making under competition. More specially, Game Theory is the study of optimal decision making under competition when one individual s decisions affect the outcome of a situation for all other individ uals involved. Game Theory can be broadly classified into four main sub-categories of study: - Classical Game Theory - Combinatorial Game Theory - Dynamic Game Theory - Other Topics in Game Theory As a mathematical tool for the decision-maker the strength of gameRead MoreAttribution Theory On The Decision Making Process Of Tom And Amy1228 Words   |  5 PagesExplain attribution theory. Draw on the mini-case to identify and explain three biases or errors that may affect the decision-making process of Tom and Amy. Discuss why attribution theory is important in relation to organisational behaviour and decision-makers in organisations. Attribution theory, as a powerful model for explaining and exploring decision making in the job selection, which helps us to determine whether an individual’s behaviour is internally or externally caused. The attribution

Symptoms And Treatment Of Alzheimer s Disease - 2254 Words

Why do people wake up in the morning? Is it to drive to school or work or perhaps to make it to the gym for that early morning workout session? Regardless of why people wake up, one thing that people have in common is that they’re aware of who they are and what they want to accomplish, well for the most part that is. There are many people living in this world with a disease called Alzheimer’s, which is a very deadly and mysterious disease. Alzheimer’s is a type of Dementia that causes problems with memory, thinking and behavior. This disease is a progressive cognitive disorder that deteriorates brain cells eventually to the point of destroying them. This kind of deterioration leads to memory loss as well as alterations in thinking and†¦show more content†¦Through musical participation in the therapeutic environment, clients capacities are reinforced and conveyed in other areas of their lives. Additionally, Music therapy also offers ways for communicatio n that can be accommodating to the people who find it challenging to express themselves in words. Research in music therapy supports its effectiveness in many areas such as: overall physical rehabilitation and facilitating movement, increasing people s motivation to become engaged in their treatment, providing emotional support for clients and their families, and providing an outlet for expression of feelings (Gregory59). Whether it is apparent at first or not music therapy interventions help the patient improve their diminishing cognitive function ability with the music that is selected as well as the intervention applied, which plays a major role in the process. There are many people who believe that music therapy truly works when helping patients, such as Dassa Ayelet who has a PHD from Bar-llan in Israel and wrote her dissertation on the impact of singing in music therapy groups on the language abilities of Alzheimer’s patients in moderate to severe stages. She has been working as a music therapist with people with Alzheimer’s disease Alzheimer’s disease for almost 17 years. In her clinical work,

Korean and japanese cinema Free Essays

Introduction The emergence of the Japanese film industry could be dated back to the year 1898 through the emergence of the silent films whereas the Korean film’s that the Koreans produced started since the year 1919 (Paquet, 2007)†¦ This essay would then focus on Korean directors’ usage of women to elicit political and social implications. Firstly, these depictions could intensify the changing roles of the women in Korean society and secondly, it could elicit reactions from both the female and male audience. In the hopes of further deepening these implications, a view on Japanese women would also be used as a comparison. We will write a custom essay sample on Korean and japanese cinema or any similar topic only for you Order Now Korean view on women in society and the Director’s perspective on leading ladies From the Confucian ideal of a woman is depicted through the main role of women is to be prepared in becoming a wife and a mother (Paik, 1998). Nowadays, Korean women are entering the working sphere of the country whereas before it was limited to the male species. The directors then would like to highlight the women in a movie especially when the societal changes are much concerned with the women of the society. These depictions could bring forth the reactions from both the female and male viewers. An example on the changing view of women’s role in society is through the film, ‘YMCA Yagudan’ or ‘YMCA Baseball Team’ where the leading lady’s character is depicted to be modernized and she had a major influence on the leading man. Japanese view on women in society and the implication on societal changes resembling the Koreans’ changes and the director’s depiction for these changes Like the Korean women, Japanese women are confined to what is known to be the private sphere. The duties then lie on the men’s shoulders to provide for the family. The Japanese view on women then gradually changed by using what is known to be the private sphere or domain where women belongs to a more public domain and become a way to see that the private sphere in the form of the household is matriarchal in nature (Friedman, 1992). It could be seen in the Japanese film, Hotaro no haka’ or ‘Grave of the Fireflies’ that the male main character had the burden to provide for his sister, the female main character. Nonetheless, the changing role on women in Japan then could be seen through the changes that the two siblings had to undergo in order to survive and breaking free from the usual connotation of the family structure would be a leeway for the changes to be realized (Jubei, 1995). In a way, both the sibling depicts the changes in societal perspectives by escaping the society imposition of what they ought to do. The sister along with the brother’s pride became the motivations in running away. Conclusion What could be inferred from all these claims is that the leading lady’s role in a film could be a way to see the social changes and the political stands. In a Korean film, it could elicit reactions from both the women and men. Another reason is that highlighting the women predicament in a film could make the audience see the societal changes in women’s role. References Friedman, S. (1992). Women in Japanese Society: Their changing Roles.  Ã‚   Retrieved August 27, 2007, from http://www2.gol.com/users/friedman/writings/p1.html Jubei, Y. S. (1995). Hotaro no Haka (Grave of the Fireflies).  Ã‚   Retrieved August 24, 2007, from http://www2.hawaii.edu/~dfukushi/Hotaru.html Paik, Y.-J. (1998). Women’s Development and Information on Women in Korea.  Ã‚   Retrieved August 24, 2007, from http://www.ifla.org/IV/ifla64/112-122e.htm Paquet, D. (2007). A Short History of Korean Film.  Ã‚   Retrieved August 27, 2007, from http://www.koreanfilm.org/history.html How to cite Korean and japanese cinema, Essay examples

Capability Development and Community Empowerment

Question: Discuss about the Capability Development and Community Empowerment. Answer: Introduction: Large corporations have become an economical, environmental, cultural and political force, which is unavoidable in the environment of todays globalized world (Ansari et al., 2012). Moreover, large corporations and industries are highly influential on the everyday lives of billions of people around the world. While prioritizing the industries for their influence on shaping the world, IT industries would be the first priority. IT industries have major power in shaping the lives of the people. While considering telecommunication sector, it has made human life easy by reducing communication gap with people existing in far distance. People do not have to wait for long time in communicating with each other like the past days. People can communicate with each other even if they are in long distance and oversea the country. With the invention of telephones, Smartphone and internet, people can communicate with each in long distance within a fraction of time. The evidences can be found from th e corporations like Samsung, Apple, Microsoft and BlackBerry (Ansari et al., 2012). The easy user interfaces of the products of these companies are easily accessible for the people. While considering automobile industries, it has provided incredible freedom to the people towards their physical movement. Moreover, with the innovation and advancement, automobile industries are offering more safer and comfortable journey to the people. Furthermore, with the advancement in design, automobile sector has enhanced the sophistication in human life. Moreover, automobile sectors have huge contribution in world economy by developing quality of the world. Automotive industries account for 80% of sales and growth, which have major contribution to the economy of the world (Morris et al., 2012). Moreover, automotive industries are also removing the unemployment rate in the world by employing people in it manufacturing, sales and engineering departments. Moreover, the invention of hybrid cars has major contribution in protecting world from harmful impacts. For example, the hybrid cars of Toyota Company consume less energy and emit less carbon footprint towards protecting the wo rld environment (Geng et al., 2014). Food and beverage industry is also highly responsible for shaping the world. Food and beverage industry provides highly nutritious foods to the people towards providing them healthy life. Moreover, with the advancement in the decoration of the hotels and restaurants, people can also have fine dining experience in their life towards spending some quality life. For example, the Mandarin Oriental hotel in Hong Kong offers world class dining experience towards making the life of people so personal (Geng et al., 2014). On the other hand, healthcare industry administers care, treats and diagnoses millions of people from newborn to terminally ill people. Structured healthcare organizations provide foundation of healthy lifestyle of the world people. Moreover, good healthcare and education induction highly contributes on rural development. For example, top healthcare company Abbott is highly focused on providing top-level medical services towards improving the quality of people life. They ar e providing their medical service to more than 150 countries by including the rural health life (Morris et al., 2012). Forces In and Outside of Business Firms The role of work in todays world has changed due to economic condition and changes in social demands. In todays competitive business world, organizations are confronting changing and dynamic business environment. Some of internal and external forces, which are described below, force these changes: The natures of employees have been changed over a passage of time. Different generations have expressed their work value at different ways. The old generation workforces are more loyal towards their employers, whereas the new generation employees are more loyal towards their careers. Moreover, the profiles of the employees are also changing so fast, as the new generation employees are highly educated. These employees put more emphasis on employee value and are more likely to question the management authority (Lockett et al., 2014). Therefore, the complex behavior of the new generation employees is forcing the management to change their management practice. Financial Management Finance is the prime factor for any organization towards it success. Without money, organizations do not have any existence. Therefore, successful financial management builds the success of organization in long run. In this way, success financial management can lead to changes in business operation like purchasing raw materials, proper fund distribution and introduction of new assets (Battilana Casciaro, 2013). Technological Capacity Successful business organizations need to keep themselves abreast with the changes in technology. In order to upgraded, organizations need to change their production process with the changes in technology (Jiao et al., 2013). Market Condition Every organization is to export its products to the environment. Therefore, organizations are to face severe competition in the market. Organizations mostly face two types of competition in the market. One is the offering of same product by other organization and two is the customers, who are not buying the products (Michel, 2014). Therefore, this situation forces organization to change their business operation for bringing uniqueness in their products and modifying the expectation of the customers. Political Forces Political forces have direct influence on the business practice of organizations. Political forces outline the business framework towards its day-to-day operation. Political forces like Government policies, tax policies, Government decisions and political stability have direct bearings on the business framework and stakeholder expectation of the organization (Battilana Casciaro, 2013). Customer Satisfaction Customer satisfaction is the ultimate goal of any organization. It measures the effectiveness of the products and services offered by organization. It seems to be the major performance indicator for any business (Michel et al., 2013). Therefore, the intension of enhancing customer satisfaction leads organizations to introduce innovative products, incorporate new technologies and adopt new business practice. Forces of Law and government Regulation on Business Legal and Regulatory environment play a significant roles towards determining the success of any organization. Government imposes taxes on business for promoting economic growth and cushioning consumers from exploitation. According to Gomes-Casseres, (2015), Tax Law highly controls the business behavior, where organizations must have to report their financial status to the Government. Based on the financial status Government imposes taxes on business, which organizations are liable to pay for economical growth of country. This law forces business to choose accrual method of accounting principle towards maintaining transparency with the Government. On the other hand, Haidar, (2012) opined that Labor Laws defines the regulations, which defines the way of organization regarding their employee treatment. This law incorporates minimum wage regulations, employee protection rules and wage garnishing rules. These organizations are to set their salary structure and workplace culture as per th e law set by the Government. Barkemeyer et al., (2014) revealed that environmental law highly guides the business behavior towards protecting the environment. This law restricts organizations to perform any business practice, which can harm the environment. This law forces organizations to dispose of their hazardous materials without harming the surrounding environment. On the other hand, Michel, (2014) opined that report law of business controls the ways of demonstrating the financial report to the investors and Government. This law forces organizations towards meeting the standards of transparency purpose. Reporting law is quite similar to that of tax law, but is more concerned with preventing misconduct and fraud. Haidar, (2012) pointed out that Zoning Law restricts organizations for operating business in certain specific areas or zones. Moreover, intellectual and property law restricts an organization to copy the invention, design and artistic work of another organization. References Ansari, S., Munir, K., Gregg, T. (2012). Impact at the bottom of the pyramid: The role of social capital in capability development and community empowerment.Journal of Management Studies,49(4), 813-842. Barkemeyer, R., Holt, D., Preuss, L., Tsang, S. (2014). What happened to the developmentin sustainable development? Business guidelines two decades after Brundtland.Sustainable Development,22(1), 15-32. Battilana, J., Casciaro, T. (2013). Overcoming resistance to organizational change: Strong ties and affective cooptation.Management Science,59(4), 819-836. Gomes-Casseres, B. (2015). The three laws of business combinations: how to create value by remixing assets.Strategy Leadership,43(5), 18-23. Geng, Y., Fujita, T., Park, H. S., Chiu, A., Huisingh, D. (2014). Call for papers: Towards post fossil carbon societies: regenerative and preventative eco-industrial development.Journal of Cleaner Production,68(0), 4-6. Haidar, J. I. (2012). The impact of business regulatory reforms on economic growth.Journal of the Japanese and international economies,26(3), 285-307. Jiao, H., Alon, I., Koo, C. K., Cui, Y. (2013). When should organizational change be implemented? The moderating effect of environmental dynamism between dynamic capabilities and new venture performance.Journal of Engineering and Technology Management,30(2), 188-205. Lockett, A., Currie, G., Finn, R., Martin, G., Waring, J. (2014). The influence of social position on sensemaking about organizational change.Academy of Management Journal,57(4), 1102-1129. Michel, A. (2014). The mutual constitution of persons and organizations: An ontological perspective on organizational change.Organization Science,25(4), 1082-1110. Michel, A., Todnem By, R., Burnes, B. (2013). The limitations of dispositional resistance in relation to organizational change.Management Decision,51(4), 761-780. Morris, M., Kaplinsky, R., Kaplan, D. (2012). One thing leads to anotherCommodities, linkages and industrial development.Resources Policy,37(4), 408-416.