BPMN1013-Chapter 7 (S)

Sutton believes that employees need to be fully served and valued so they in turn serve customers. He doesn’t take himself too seriously, connects with his employees on a personal level, and will even clean his stores’ bathrooms when needed.

• Analitical style

• Conceptual style

• Directive style

• Behavioral style

According to colleagues, Iger, who led the company from 2005 until February 2020, forged trust with business partners, even former adversaries. He was also known for taking risks in order to propel the company forward. These included Disney’s purchase of the Star Wars franchise and 21st Century Fox, construction of additional theme parks in other countries, and launch of the Disney+ streaming service.

• Conceptual stual

• Directive style

• Analytical style

• Behavioural style

Ursula Burns had this style during her time as chief executive of Xerox. Burns was famous for asking subordinates to poke holes in her ideas and provide alternative choices. She also ensured her advisors came from diverse backgrounds so they could provide her with different perspectives.

• Analytical style

• Behavioral style

• Directive style

• Conceptual style

Terry Jimenez, the chief executive of the New York Daily News, Chicago Tribune, and Baltimore Sun newspapers, fits this pattern. The move from print to digital media means newspapers need to make difficult cuts in order to stay alive, and Jimenez does not shy away from making difficult decisions. His newspapers cut half of their editorial staff in 2018 and Jimenez initiated additional cuts at the executive level in 2020.

• Behavioural style

• Directive style

• Analytical style

• Conceptual style

Small entrepreneurs often can’t afford in-depth marketing research, and so they make decisions based on hunches—their subconscious, visceral feelings.

• nonrational decision making

• rational decision making

After you’ve identified the problem or opportunity and diagnosed its causes, you need to come up with

• evaluate options

• alternative solution

• implement the solution chosen

• evaluate the solution choosen

Decision makers increase their commitment to a project despite negative information about it.

• Escalation of commitment bias

• Sunk-cost bias

• Representativeness bias

• Confirmation bias

Managers add up all the money they or others have already spent on a project and conclude it is too costly to simply abandon it, even when information exists supporting a change in course

• Escalation of commitment bias

• Sunk-cost bias

• Representativeness bias

• Confirmation bias

Tendency to generalize from a small sample or a single event

• Escalation of commitment bias

• Anchoring and adjustment bias

• Representativeness bias

• Confirmation bias

The use of information readily available from memory to make judgments

• Availability bias

• Anchoring and adjustment bias

• Representativeness bias

• Confirmation bias