University:
Massachusetts Institute of Technology
Course:
15.501/516 | Accounting
Academic year:

2023
Views:

159

Pages:

2
Author:

Tabitha Rojas

Practical Leadership Class Six – Decision Making • • • • • Decision-making models Decision-making styles Recommendations for changes to this course Decision-making Role Play Brief summary of results of Action Plans Read: • Williams, Gary and Miller, Robert. “Change the Way You Persuade.” Harvard Business Review, May 2002, pages 64-73. Due Today: • Final version of Leadership Packet: • Leadership Definition • Self-Assessment • Action Plan and Result • Journal • Next Steps AGENDA Welcome Decision-making lecture • 4 models • good decision making • hidden traps • reading – 5 styles Role Play Hand in Final Assignment Closing comments Decision-Making Models • The HOW -- autocracy, informed autocracy, democracy, unanimous vote Good Decision Making (David Garvin, Michael Roberto HBR 9/2001) • Inquiry vs Advocacy • Open debate of alternatives, seeking alternatives VS competing positions • Good decision making o Clear goals o Multiple alternatives o Test assumptions o Healthy dissent/debate Cognitive debate on ideas Minimize emotional personal attacks or getting defensive o Perceived fairness at closure Make sure those whose ideas are not chosen feel they have been given full consideration. Make closure – not too early (insufficient alternatives) – not too late (analysis paralysis) Hidden Traps (John Hammond, Ralph Keeney, Howard Raiffa – HBR 9/98) • Anchoring (being swayed by “facts”) – Population of Turkey – 100 million? 35 million? • Status Quo (stay with what you have) • Sunk Cost (hard to sell losers) • Confirming Evidence (therefore don’t look for other evidence) 5 Styles -- Williams, Gary and Miller, Robert. “Change the Way You Persuade.” Harvard Business Review, May 2002, pages 64-73. Charismatic Enthusiastic. Needs details Thinker Wants all info Skeptic Requires credibility Short attn span Pros and cons Will attack you OK w/ risk Takes time to decide Risk averse Takes long time to decide Can make quick decision Follower Will only agree to what has worked before Likes innovation Minimal risk Can act quickly Controller Supply info Do NOT sell Avoid risk Takes long time – must be own idea