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Learning and Decision Making

Explore the definition of learning, methods of learning, and the significant impact of learning on decision making. Discover why some employees learn to make better decisions than others and the common reasons for making bad decisions. Learn about the importance of learning in the workplace and best practices for knowledge transfer.

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Learning and Decision Making

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  1. Learning andDecision Making • Chapter 8

  2. Class Agenda • Project progress reports • Vocabulary • Learning defined • Methods of learning

  3. Why Do Some Employees Learn to Make Decisions Better than Others?

  4. Definition of Learning • Permanent changes in an employee’s knowledge or skill that result from experience • Employees learn two types of knowledge: • Explicit – easy to communicate and teach • Tacit – more difficult to communicate; gained with experience

  5. Methods of Learning • How do employees learn? • Reinforcement

  6. Methods of Learning

  7. Methods of Learning

  8. Methods of Learning • How do employees learn? • Reinforcement • Observation • Social learning theory

  9. Methods of Learning

  10. Methods of Learning • Some people learn differently, as a function of the goals and activities that they prioritize • Goal orientation • Learning • Performance-prove • Performance-avoid

  11. Decision Making • The process of generating and choosing from a set of alternatives to solve a problem • Learning has a significant impact on decision making

  12. Decision Making Identify the problem Is the problem recognized? Has it been dealt with before? Yes No Programmed Decisions Nonprogrammed Decisions (Rational decision making model) (Intuition, “Gut feeling”)

  13. Decision Making • Nonprogrammed decisions • Rational decision-making model

  14. Decision Making Problems • Common reasons for making bad decisions • Limited information • Faulty perceptions • Faulty attributions • Escalation of commitment

  15. Limited Information

  16. Faulty Perceptions • Heuristics and decision-making biases • Availability • Anchoring • Framing • Representativeness • Contrast • Recency • Ratio Bias

  17. Faulty Attributions

  18. Escalation of Commitment • The decision to continue to follow a failing course of action • Throwing good money after bad

  19. How Important is Learning?

  20. Application • Training • Behavior modeling • Communities of practice • Transfer of training • Climate for transfer

  21. Best Practices: Tennessee Valley Authority

  22. Largest public power company in the US Working to retain the knowledge of retirees (average at is 48 years old) Each employee gives nonbinding planned retirement age Shadowing and apprenticeship programs used to transfer knowledge Managers assign a “critical knowledge score” for each employee Best Practices: Tennessee Valley Authority

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