GROUP DECISION MAKING

Presented By
Amit Kumar Prasad
Kshitij Gore
Leneil Gomes
Parag Harshe
Shruti Gupta
Srabana Chaudhari
AGENDA
Classification of Groups

Five Stage Group Development Model

Pitfalls of Decision Making

Group Decision Making

Global implications




HOW TO CLASSIFY GROUPS
Formal
Command
Task
Informal
Friendship
Interest
FIVE STAGE MODEL OF GROUP DEVELOPMENT
PITFALLS OF DECISION MAKING
Conformity

Deviant Workplace Behaviour

Social Loafing




HOW TO TAKE DECISIONS IN A GROUP
Interacting Groups

Nominal Groups

Devils Advocate

Groupthink


GLOBAL IMPLICATIONS
Status and Culture

Group Diversity

One study of jury behaviour found diverse juries
more likely to deliberate longer, share more
information and make fewer factual errors when
discussing evidence



OTHER RELATED MOVIES
Techniques to overcome:
View a problem from
different perspectives (use a
different starting point to
avoid the anchor),
be open minded
be careful to avoid anchoring
your advisor (tell them as
little as possible and ask for
their opinion)
be particularly wary of
anchors in negotiations.




ANCHORING TRAP
When considering a
decision, the mind gives
disproportionate weight to
the first information it
receives.
Initial impressions,
estimates, or data anchor
subsequent thoughts and
judgments.


STATUS-QUO TRAP
S-Q trap lies within our
psyche(protect ego)
More choices to change
more pull towards the S-
Q.
Breaking from S-Q
taking actiontaking
responsibilityopening
self towards criticism
How to Avoid ?
Never think S-q is the
only alternative(Identify
other options)
Avoid exaggerating
effort involved
Remind yourself about
the objective
Force yourself to choose
FRAMING TRAP
1
st
step in decision
making processframe
the question
Profound influence on
the choices made 2
types of frames that
influence your choices
1.Frames as gains vs
losses
2.Framing with different
reference points.

What can you do
about it?
Dont accept the initial
frame as given, reframe
the problem and look for
distortions
Think hard about your
decision making process
about framing the
problem esp at the end.
Challenge others with
different frames.
SUNK COST TRAP
When you find your self in a hole, the best you can do is stop digging Warren
Buffet
Make choices in a way
that justifies past
choices, even when
past choices dont
seem relevant.
People are unwilling
consciously or not to
admit to a mistake.
Seek views of uninvolved
people who are unlikely to
be committed to an earlier
decision.
Why distress???(Address
self-esteem)
Dont cultivate a failure-
featuring culture that leads
to perpetuating mistakes.
Be on look out
CONFIRMING EVIDENCE TRAP
It leads one to seek out
info that supports ones
existing instinct while
avoiding info that
contradicts it.
This affects where we get
our info and how we
interpret it.

How to avoid??
Examine all evidence
with equal rigour
Get someone to play
Devils advocate

ESTIMATING AND FORECASTING TRAP
Managers continuously
make estimates and
forecasts and they rarely
get feedback about their
accuracy.
Categorized into 3
1. Overconfidence trap
2. Prudence
3. Recallibilty

How to avoid?
1. To avoid Prudence trap,
state your estimates
honestly.
2. To avoid recallibility,
dont be unduly
influenced by memory
and get actual stats.

THANK YOU