Describe common biases in decision making.

Unit 3 Main Discussion Board
Research Design and Analysis
Objectives for this assignment:
Apply critical thinking skills to analyze business situations.
Apply the standard of APA style to all research and writing tasks.
Appropriately use effective communication techniques.
Describe common biases in decision making.
Summarize the role of decision making in business.
This DB has three parts:

  1. Writing a mission statement requires      focus and should inspire not only the employees within an organization but      the customers, suppliers and community as a whole.  What are the nine      basic components of a mission statement? Why is it important to include as      many of these components as possible in a company’s mission statement?
  2. There are many analytical tools and      techniques available for companies to gauge not only where they stand      within the industry but to also assess their sustainability and      competitive advantage within the marketplace.  Why do you believe it      is an important step within a strategic planning process to conduct a SWOT      analysis?  How can a VRIO help an organization?
  3. Describe a situation when a TOWS      matrix framework would be appropriate.

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