Perception and Decision-Making

Paper Summary:

This paper discusses the process and the organization of perception as extremely important in any decision-making endeavor. Specifically, the paper looks at the differences in perception on individuals' understanding of reality and how this affects the decision-making process within the business environment where there are numerous variables. In other words, perception takes place when the individual selects, organizes and interprets the various sensory inputs or impressions that he or she encounters. Furthermore, this paper looks at what happens when there are perceptual errors in decision-making within the business sphere.

From the Paper:

"However, perceptions may not always be correct. They may be biased or simply based on flawed or false information and data. This is a central issue that the business leader or manager has to be aware of. Therefore, it follows that a fundamental issue in the relationship between perception and business decisions is that clear and accurate perceptions are essential for correct and effective decisions in any business concern.
"While the above statement is the ideal that should be achieved, in reality the issue of perception poses a number of problems for the business manager and for anyone making decisions in the business world. Managers and leader in business have to be aware of the quality of the information that they base their decisions on and in other factors that can negatively affect the perceptions that lead to decision making. For example, the biases and prejudices that may be a part of the perception process have to be 'filtered out' of the decision - making in order for the decisions to be as accurate and effective as possible."

Sample of Sources Used:

• Introduction to Organizational Behavior. Retrieved January 25, 2008, from http://www.icmrindia.org/courseware/Organizational%20Behavior/OB-DS9.htm
• PERCEPTION AND INDIVIDUAL DECISION MAKING. January 25, 2008, from http://209.85.175.104/search?q=cache:AMm7Pg2AhoEJ:web.ed.ntnu.edu.tw/~minfei/OBch5.doc+perception+in+the+decision+making+process+in+a+business+situation.&hl=en&ct=clnk&cd=27&gl=za
• PERCEPTION IN ORGANIZATIONS. Retrieved January 25, 2008, from http://209.85.175.104/search?q=cache:71m7THY8yhcJ:python.rice.edu/~arb/Courses/750_04chapter6.pdf+perception+in+the+decision+making+process+in+a+business+situation.&hl=en&ct=clnk&cd=33&gl=za

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