1 Answers

Option 4 : C, D and E only

Russo and Schoemaker's book Choice Traps (1989) is a remarkable work that analyses, examines, and offers treatments for ten common decision traps, traps that individuals frequently fall into, lowering the quality of their decision-making processes, decisions, and, as a result, decision outcomes.

 

Some of the Decision traps that pertain to thinking and planning activities are mentioned below: 

Decision traps Description 
Plunging In

Begin gathering data and drawing conclusions without first taking a few moments to explore the essence of the issue at hand or how you believe such decisions should be made.

Frame Blindness Frame Blindness occurs when you set out to solve the wrong problem without giving it much thought because you created a conceptual framework for your decision without giving it much thought, causing you to overlook the best options or lose sight of critical goals.
Poor Frame of Control Failure to define the situation in more than one way or being unduly influenced by the frames of others.
Group Failure Assuming that good judgment will spontaneously happen because there are so many smart people involved, and so neglecting to control the group decision-making process.
Short-sighted shortcuts Using inappropriate "rules of thumb," such as blindly trusting the most easily accessible information or leaning too heavily on convenient facts.

Therefore, C, D, and E is the correct option. 

Confusion Points

  •  Not Keeping Trak and Overconfidence also are Decision traps that pertain to thinking and planning activities.

  • Overconfidence in Your Judgment — Failing to gather essential factual information because your preconceptions and opinions are too certain.
  • Shooting From the Hip — Believing that you can keep all of the information you've gathered in your head straight, and hence "winging it" rather than following a methodical procedure when making a final decision.
  • Not Keeping Track - Assuming that experience will automatically reveal its lessons and, as a result, neglecting to keep systematic records to track the outcomes of your decisions and failing to analyze these outcomes in ways that expose their key lessons.
  • Failure to Audit Your Decision Process – Failing to develop a systematic strategy to comprehend your own decision-making, leaving you vulnerable to all of the above errors.
4 views

Related Questions