Rubbly Princess Ship Company Crisis
Assessment Instructions
- What decision-making models or approaches were used by the company when managing this crisis? In answering this question, refer to 1 (one) decision-making model which could have been followed.
In recent months, the life of the whole world changed abruptly due to the Covid-19 crisis. Covid-19 has affected a million families and adverse effects on the economy. Due to its negative impacts, every company is finding a solution to the crises. The Rubbly Princess ship company used the implicit favorite model to manage the Covid-19 crisis. This is because the model provides the Rubbly princess decision-maker to evaluate all solutions provided for covid-19 against the given Covid-19 best decisions. Some of the given solutions decision-makers find them to be less favorable, making him or her choose the implicit favorite solution for the covid-19 crises.
The importance of using this implicit favorite decision-making model include that it provides Rubby decision-maker with supplementary information which is essential during the whole process. Also, it has a lot of produced varieties that are used to produce a wide variety of information from where the right decisions are derived from the data. Also, the model attracts the unconditional agreement, which is attractive due to the easy procedure that is followed.
- Identify a minimum of 2 (two) decision-making biases or errors that might have influenced the decisions. What could have been the impact of these biases or errors?
As the Rubby Company developed the implicit decision-making model to fight Covid-19, the model has some bias and errors which may affect the final decision. One of the biases is overconfidence. Overconfidence may make the decision-maker to overrate the skills he or she uses during decision making. Overrating the skills uses may make him or her to be careless and the lack keenness over the matter. This is because overconfidence is an art which impairs the decision making a consultation. This overconfidence will make a wrong conclusion to be driven from the right information because it stole the commitment required.
Another bias is anchoring, which is the decision-maker giving the information given a lot of weight. In this bias, the decision-maker most of the time focuses on information which was represented first and ignoring the information given later. When the decision-maker ignores some, the information might make a wrong decision later in the decision-making phases. The impact of these errors is that the stages that implicit favorite decision-making models may not be adequately represented, and the decision-maker may come up with wrong resolutions to covid-19 crises, thus affecting the individuals who work in the company. This may result in loss of company clients and also the worker’s livelihood.
- Make a minimum of 2 (two) recommendations regarding the strategies that could be put in place, in the future, to avoid your identified decision-making biases or errors.
Due to biases that exist while making the decisions, I recommend the decision-maker to be keen with all information given. This is done by taking some time before making the final decision to avoid the anchoring bias. Also been so confident will lead to making wrong conclusions; thus, it should be avoided. The way to avoid overconfidence bias can be avoided by listening to other people’s views and opinions. This will help in obtaining as much information as possible. Thus the decision-making process will be more exciting and more accessible. Secondly, decision-maker should seek perspectives which are very diverse while analyzing the articles with the information. Having all the information in hand will help in making a conclusion that will be accepted by everyone in the company.
Also, the decision-maker is supposed to allow the project to have adequate time. Rushing over, making final decisions will make him or her to give relevant information over the crisis. Thus, it’s crucial to give him or her adequate time will ensure that every relevant information provided is utilized well without any going to waste. When all information is utilized well, it also means the feedback about the information will be worthy, it thus final decision will be of great importance.