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Project and People

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Project and people assignment 1
Topic: Individual decision making * Individual think and reason before they act * Process of choosing from the several alternatives * Effective decision making- forecast the outcome of each option and determine which option is the best for that particular situation * Suggestion to manager: i) Analyze situation ii) Be aware of biases and try to reduce impact iii) Combine rational analysis with intuition iv) Try to enhance creativity * Decision making in organization i) Rational model: a) Defining the problem b) Identify the criteria c) Allocate weight to the criteria d) Develop alternatives e) Evaluate the alternatives f) Select the best alternatives
Assumption of the rational model: a) Problem clarity b) Known option c) Clear preference d) Constant preference e) No time or no cost constraints f) Maximum payoff ii) Bounded rationality: iii) Intuition: a) Identify the problem - unconscious process b) Identified the limited list - it is form of superstition c) Analyze the limited list and sixth sense d) Chose critical alternatives e) Satisfying choice first acceptable BILL GATES * Born – Oct 28, 1955; Seattle, Washington. * Bill gates graduated in 1973, enrolled at Harvard college, met Steve Ballmer * Gates and Paul Allen joined Honeywell (summer, 1974)
Also cofounded Microsoft (Albuquerque, New Mexico) (4 April, 1975) * World largest PC software company * Bill Gates discontinued his higher studies- intuition decision making * During career, Gates held position of Chairman, CEO, Chief software architect * Largest individual shareholder until May 2014,

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