Week 3 Assignment
Star Student
International American University
MGT 860: Managerial Decision Making
David Johnson, Ph.D.
March 21, 2020
Week 3 Assignment
External factors largely influence an individual’s decisions than one would imagine. This case study looks at some of the factors that influence an individual in their process of decision-making. More so, this case study looks at ways in which change blindness and bound awareness influence the logic and the overall criteria of decision-making by individuals on matters such as housing.
Change Blindness and Bound Awareness in an Individual’s Decision-making Process
When making decisions, the environment and the people in it influence an individual decision-making process to a great extent. In a recent study, Emami-Naeini et al., (2018) found that individuals are more likely to consult their peers while making decisions on matters that they think are challenging. This sets a huge room for peer influence during decision-making. When making a decision to buy or rent a house, one would most likely seek advice from friends or colleagues who already own houses. It is logical to ask for guidance from other individuals who have previously walked a similar path.
While friends and peers should not solely influence an individual’s decision-making process, an individual should also employ experiences and personal knowledge when making their decisions (Dietrich, 2010). When an individual relies much on the influence of friends and colleagues, they are bound to become victims of change blindness as well as bound awareness either in groups or in strategic settings as well.
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