B Y L ARRY C HONKO, P H.D. T HE U NIVERSITY OF T EXAS AT A RLINGTON The Decision Making Process presents

The Decision Making Process  Problem Recognition and Information Gathering  Identify Alternative Courses of Action  Evaluate Alternative Courses of Action  Estimate Probabilities  Calculate the Expected Values and Make a Decision  Justify the Course of Action Chosen

The Decision Making Process Key Questions Concerning Decision Making When Ethics Are In Play  Which alternative respects the rights and dignity of the stakeholders and can be universally applied?  Which alternative will produce the most good and the least harm?  Do any of the alternatives violate a conventional moral rule?  Which alternative can you personally live with?

The Decision Making Process Additional Thoughts  Focus on consequences that have a high probability of occurring  The greatest good for the greatest number of people  Think broadly  Consider importance of stakeholders

The Decision Making Process What Is Your Ethics Confidence?  Have I/we thought broadly about the ethical issues associated with the decision I/we have made?  Have I involved those who might have some right to input or involvement in the decision I/we have made?  Does my/our decision respect the rights and dignity of stakeholders? (which?)  Does this decision product the most good and the least harm to stakeholders? (which?)  Does the decision I/we have made uphold moral rules by which I/we live?  Can I/we live with this decision in the long-run?  Does the decision I/we have made allow for growth in my/our character?

The Decision Making Process BIASES  Obedience to Authority  Social Proof  False Consensus Effect  Over-Optimism  Overconfidence  Self-Serving Bias  Framing BIASES  Process  Sunk Costs  The Tangible and the Abstract  Time-Delay Traps  Loss Aversion