Scribd
Upload
220 views4 pages

Strategic Management - Module 1 - Assignment - P

This document appears to be an assignment discussing biases that can affect decision making, specifically the biases of retrievability and ease of recollection. The author discusses instances in their professional career where these biases have influenced their procurement and partner selection decisions, often favoring familiar options over less familiar alternatives even if other options may have been suitable. The author resolves to reduce reliance on familiarity and give all options an equal opportunity when making future purchase decisions.

Uploaded by

David Luko Chifwalo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
220 views4 pages

Strategic Management - Module 1 - Assignment - P

This document appears to be an assignment discussing biases that can affect decision making, specifically the biases of retrievability and ease of recollection. The author discusses instances in their professional career where these biases have influenced their procurement and partner selection decisions, often favoring familiar options over less familiar alternatives even if other options may have been suitable. The author resolves to reduce reliance on familiarity and give all options an equal opportunity when making future purchase decisions.

Uploaded by

David Luko Chifwalo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 4

GSB903914

Pauline Kadimba Chipili

MBS 5022

Strategic Management

DR. RAJ PARIKH

Assignment 1

THE UNIVERSITY OF ZAMBIA

Due Date July 31, 2022


According to Bazerman M. and Moore D. (2013), using heuristics incorrectly leads to

prejudice. A heuristic is a strategy or technique that makes problem-solving easier than it

would be if you did all the computation yourself.

It appears that the biases of retrievability and ease of recollection have affected my decision-

making process based on the biases outlined.

According to Bazerman M. and Moore D. (2013), the ease of recall bias causes people to

base their decisions on what they can quickly and easily recollect from their prior

experiences. I have experienced this kind of bias in my professional career. For instance, I

had to consider the services that the Zambia State Insurance Firm (ZSIC) had offered to my

office vehicles while choosing the insurance company to cover my personal vehicle. I

therefore decided to get the insurance from them for my personal cars as well.

This type of bias has also affected the procurement evaluation committee. We once had to

choose a community partner to deliver community HIV services in two of the districts we

support. It was simpler to choose a partner who we had previously observed working nearby

rather than a new partner whose work we had never seen. Despite having a number of

vendors, the one partner who provided community HIV services that we remembered was

given good marks. This was premised on what we were aware of the vendor's prior behavior.
This specific bias was brought on by familiarity. This is because working with known

vendors makes us feel at ease. We're a little hesitant to start learning because of the potential

risks.

Retrievability bias influences decision-making in that people have a propensity to favor

circumstances that they have interacted with frequently. This prejudice has affected my

decision-making in my professional life as well. For instance, the sand and flood plains in our

province make it difficult to work from a base. This is why we need to purchase cars that can

operate in such a challenging environment in order to deliver effective HIV and TB services.

As a company, we have always understood that the best services in that terrain can only be

provided by Toyota Land Cruisers. This is due to the fact that Toyota Land Cruisers have

been used to perform work in Western Province for as long as we have records of it. It's only

that the information that is easily accessible indicates that Toyota Land Cruisers have

performed effectively in the province for a number of years now. This does not necessarily

imply that Jeep or other makes or types of cars cannot function in this terrain. We always

consider Toyota to be a favored supplier of vehicles when making procurement selections.

Because we don't have any data of any other service providers, this bias has been brought on.

Simply put, I often base my decisions on the information that is readily available.

Going future, I need to reduce my dependence on familiarity when making purchase

decisions in order to address these two biases. Equal opportunity must be given to each

participant to showcase their capabilities. System 2 thinking can accomplish this by putting

all six processes of rational decision-making to use.

Despite being influenced by the two biases outlined above, I often contact others before

making decisions. In that I won't make a choice without consulting my colleagues, I have
been consultative. Whether I'm making decisions for my personal or professional life, I

always talk with multiple people before reaching a final decision.

Even if I occasionally have a tendency to be overconfident, I am confident that my decision-

making process is inclusive. For instance, if I have complete knowledge of something, I

typically do not permit the presence of a different viewpoint to alter how I view that

particular item.

Reference

Bazerman, M. & Moore, D. (2013). Judgment in Managerial Decision Making (8th ed.)

(Links to an external site.)Links to an external site../ Willey ISBN: 978-1-1180-6570-9

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy