REFLECTIVE ESSAY ON “CRITICAL THINKING AND MANAGERIAL DECISION MAKING”
BABU RAM ARYAL
CQUNIVERSITY, AUSTRALIA
Introduction
The
major purpose of this essay is to summarize the critical review of the key
theories and concepts of critical thinking and managerial decision making.
Moreover, it will reflect those theories and concepts that has potential impact
on decision making and learning. Thus, it is self-reflective essay which reflects
the new insights gained about me and proposes the self-development plan. The
first part of the essay discusses the concepts and theories that are
significant for learning activities during the lecture and tutorial at campus while
the second part discusses about the influence by those activities. Thirdly, it
analyses those concepts/theories which have impacted or influenced my
professional and personal life. Likewise, the fourth part will elaborate the
skills that is essential for decision making and the lacking skills.
Furthermore, it will demonstrate improvement techniques for the future
self-development and knowledge. Ultimately, the arguments or insights at the
end of the essay highlights the use of learning in future career and life.
Significant Concepts/Theories for Learning
Activities
Managerial
decision-making and judgement have long tradition in management and represents
the organisational behaviour psychology and marketing psychology(Beach
&Lipshitz, 2017). Thus, all concepts and theories related to critical
thinking and managerial decision making described in the unit learning
activities are equally important and useful. Decision making is defined as the
rational process of logical reasoning which identifies and resolves the problems(Burton, Burgess, Dean,
Koutsopoulou& Hugh‐Jones, 2017). Thus, it seeks
to define, diagnose, and find the cause of the problem andas well as solves the
problem. According to Carnegie school of decision making the decision maker is
an individual with unlimited capabilities of information andmust perform the
role of profit optimizer when making a rational decision(Gavetti, Levinthal& Ocasio, 2007).
There
are many theories, approaches, and models of decision making. According to Oliveira (2017,
p.1239), “descriptive and normative methodologies such as attribution theory,
schema theory, prospect theory, ambiguity model, game theory, and expected
utility theory are significant for managerial decision making.” However, Beach
& Lipshitz (2017) argues that the classical decision-making theory which
describes the choices of an ideal hypothetical decision maker has little
relevance of to real-world decisions and rationalise the observed decisions.
Furthermore, mostly, the entrepreneurial decision making is noteworthy because
it should take consideration of time pressure, uncertainty, consequential
extremes and mainstream experimental psychology (perception, social behaviour,
cognition) to cognitive behavioural economics (Shepherd,Williams&Patzelt,
2015). On the other hand, the role of cognitive biases and heuristics in
decision making is growing fast based on hypothetical decisions (Blumenthal-Barby& Krieger, 2015). Thus, the
activities such as entrepreneurial assessment decisions, exploiting
opportunities, heuristics analysis using general decision-making framework,
review and integrate studies offer comprehensive agenda for future decision
making research.
The two major theories relevant to decision making are prospect theory and
psychological contract theory which I learned from week-8 are significant for
me. The prospect theory analyses the decision under risk and led the way to the
development of behavioural economics(Qin, Liu
& Pedrycz, 2015). Furthermore, this theory demonstrates that individual’s
decision-making is based on the value of potential losses and gains rather than
outcome(Gan, 2018). Thus, it makes probabilistic decisions under uncertain
circumstances and understands biasness as well as recognises the risk
averseness. In the marketing context, it is rational and attempts to understand
people's cognitive frames.
On the other hand, the psychological contact theory introduced by Rousseau
(2004) provides a briefing of her research to date into psychological contracts(Bordia, Restubog, Bordia & Tang, 2017).The psychological
contract is defined as promises which are implied or expressed regarding an
exchange agreement between the employing firm and agents, as well as between individual
and organisations(Rousseau &Gunia, 2016). It
is divided into explicit and implied contracts. The characteristics of this
theory are: incompleteness, multiple contract makers, voluntary choice, managing
losses when contract fail, contract model of employment and belief in agreement;
which attracted me mostly in this theory(Koszegi, 2014). Thus, the psychological contracts which are
relational, transactional and hybrid has more impact on my interpersonal and
professional life than the prospect theory in terms of decision making.
Impact on Interpersonal Relationship,
Professional Workplaces and Personal Life
The above-mentioned theories and concepts have highly impacted on
my current decision-making process into the interpersonal relationship,
professional workplaces or even in personal life. As the regulatory focus
theory of decision-making proposes that decision making and goal pursuit via
either a promotion focus(Blumenthal-Barby&
Krieger, 2015), I focused on the goal chase of being a dream of ‘human resource
consultant’. Moreover, empowering leadership is positively related to
psychological contract theory(Cassar& Buttigieg, 2015) and it reduces
persistence in the face of failure(Hopkins
&Yonker, 2015). Thus, through the learning of psychological contract theory
in practice helped me to acknowledge exchange and service performance,self-control,
more procrastination and active responding at my workplace.
The introduction to the social psychology literature in 60 years
ago Festinger’s cognitive dissonance theory (CDT) has been frequently applied
to the management to explain and predict the motivational nature of dissonance
in producing attitude and behaviour change in managerial decision making and
the broader organisational context(Hinojosa, Gardner,Walker, Cogliser&Gullifor, 2017).Additionally,
the psychological perspective theory enhances the effective communication,
customer-oriented approach, teamwork and help to uncover the potential
motivation(Thomson, Outram, Gilligan &Levett-Jones, 2015).
Thus,
personally, I got the opportunity to know more about networking, team engagement,
and growth of self-development. Professionally, it benefits to reduce the
workplace stress and psychological resilience(Burton, Burgess, Dean, Koutsopoulou& Hugh‐Jones, 2017).
Furthermore, the learning of psychological approach during the workplace
reduces“anxiety,
depression, shame, and guilt in association with negative thoughts about the
self, negative thoughts about the world, and self-blame (Beck, et. al. 2015,
p.3)”. Hence, I can easily manage my stress level during the decision making.
Inter personally, it reduces the inter group bias, logistical and psychological
difficulties (Gaertner & Dovidio, 2014).That is why, I have more impact of
this theory to manage my interpersonal relationship as well as professional
life.
Learning Lack of Decision-Making Skills
The lack of soft skill ‘self-confidence is one of the vital causes
of indecision (Guan, Capezio, Restubog, Read, Lajom& Li, 2016).According to
Al Ariss, Cascio &Paauwe(2014), the research on talent management ™ shows
that poor communication and lack of reasoning are two major factors that are
lagging in decision-making in business organisations. “Despite their
significant presence in western business schools, the needs and experiences of
international students have not been adequately reflected in the business
education literature”.
Based on the psychological contract theory of decision
making and international education experiences I perceive a variety of explicit
and implicit promises made by the central Queensland University which fulfilled
my satisfaction (Bordia, Bordia &Restubog, 2015).The learning unit
activities demonstrated that I have lack of reasoning skills while doing
decision making. Furthermore, I am not consulting on subject matter, poor
communication, and poor planning. The activities demonstrated that there is
lack of personal efficacy in relationship of many career-related behaviours
that is why I realize the failure of recognising my capabilities and talents in
career pursuits.
As I have tested the emotional intelligence it demonstrated that
the score of 28 in mindfulness which is somewhat acceptable while the social
management and social awareness are the elements that I lacked during the
assessment. It helped to the key areas of self-awareness regarding emotions,
psychological needs, habits, personal values and personality traits. Thus, I
have to develop the skills to detect, comprehend and respond to the feelings of
others as well as enhance the capacity to motivate, impact, and associate with
others and oversee strife.
From week-2, the most significant lesion I learnt is that problem
solving, initiatives, strategies and tactics are the major influences which
enhances the clarity in critical thinking. During the week three, the deductive
vs inductive arguments helped me to know more theoretical basis on critical
thinking. The different types of inductive reasoning such as inferences,
analogy, generalising from samples, and applying generalisations facilitated me
to enter the process of decision making. Moreover, the influencing and
persuading activities which I know from this unit are some of the skills which
are useful for change resistance.
Self-knowledge and self-development
Week 4 activities taught me the self-awareness which is key to
empowering thing, make aware of unhealthy blind spots or weaknesses and
ultimately cultivated the habit of learning and self-reflection.
Self-motivating, self-disciplined, self-aware and self-improving are some of
the major concepts that every decision-maker should be aware of (Koszegi, 2014).The lack of self-knowledge
which I have been facing is one of the key foundations for the better living
and self-improvement. To develop self-awareness and self-development I will
look everything objectively, keep a journal, perform daily self-reflection,
write down the plans, goals and priorities in future. Likewise, to come out
from stress I will practice mediation, take psychometric and personality tests,
and ask feedback from my work. Moreover, I will take the emotional intelligence
training as well.
How to Improve?
“Bookboon’s Long-Term Solution showed that eLearning is a
relatively new system of teaching employees the vital soft skills such as
making decisions.” (Gurung &Prater, 2017, p.137). Moreover, the
self-directed change is essential to come out from those barriers that is why
the four important points are essential to improve which I will follow in
future: First is informational which will increase awareness and knowledge
towards the risks while second component will focus on development of
self-regulatory and social skills that is essential to follow the preventive
action.
The third significant theme is skill enhancement and building resilient
self-efficacy which will be gained through guided practice and continuous
corrective feedback. Finally, the social supports for desired personal changes
will be essential to progress. Similarly, temperance, responsibility and
perspective are three major aspects of psycho-social aspect of judgement. Thus,
I will focus on both cognitive and non cognitive factors of good decision making
by examining the existing evidence.
The human resource challenges in managing the issues of relocation
and ‘flexipatriates and psychological contract literature’ will be the agenda
of future research (Pate & Scullion, 2018). As a human resource student, I
even faced this issue and will research on it in future. TM activities are crucial to ‘retain talented
in the case so-called Baby Boomer Generation’ (Dries & De Gieter, 2014).
Outsourcing, virtual teams and culture are the major points to be studies to
grow business.
Conclusion
In conclusion, the essay survey of critical thinking and
managerial decision making based on the presentation slides and activities
during the teaching learning method of Unit 20135 of CQUniversity. From this
Unit, I am more influenced by the psychological contract theory of individual
decision making because it is frequently used and implemented in day-to-day
personal and profession life. Likewise, I learned the team engagement and
management, leadership skills, motivation skills, decision-making skills,and
communication skills from this unit. By the assessment of different leadership
and critical thinking, I find lack of communication, cultural adjustment,
self-awareness, self-efficacy and self-confidence in my personal and
professional life.
Thus, to improve those abilities I will take training on
communication and cultural adjustment. Moreover, I will assess my decision-making skills by taking different psychosocial assessments. Finally,
overall my impression to this unit is one of the most significant and fruitful
for the future career as well.
Reference List
Al Ariss, A., Cascio,
W. F., &Paauwe, J. (2014). Talent management: Current theories and future
research directions. Journal of World
Business, 49(2), 173-179.
Angeli, C.,
&Valanides, N. (2009). Instructional effects on critical thinking:
performanceon ill-defined issues. Learning
and Instruction, 19(1), 322-334.
Beach, L. R.,
&Lipshitz, R. (2017). Why classical decision theory is an inappropriate
standard for evaluating and aiding most human decision making. Decision making in aviation, 85,
835-847.
Beck, J. G., Reich,
C. M., Woodward, M. J., Olsen, S. A., Jones, J. M., & Patton, S. C. (2015).
How do negative emotions relate to dysfunctional posttrauma cognitions? An
examination of interpersonal trauma survivors. Psychological trauma: theory, research, practice, and policy, 7(1),
3.
Blumenthal-Barby, J.
S., & Krieger, H. (2015). Cognitive biases and heuristics in medical
decision making: a critical review using a systematic search strategy. Decision Making, 35(4), 539-557.
Bordia,
P., Restubog, S. L. D., Bordia, S., & Tang, R. L. (2017). Effects of
resource availability on social exchange relationships: The case of employee
psychological contract obligations. Journal
of Management, 43(5), 1447-1471.
Bordia, S., Bordia,
P., &Restubog, S. L. D. (2015). Promises from afar: a model of
international student psychological contract in business education. Studies in Higher Education, 40(2),
212-232.
Burton, A., Burgess,
C., Dean, S., Koutsopoulou, G. Z., & Hugh‐Jones, S. (2017). How effective
are mindfulness‐based interventions for reducing stress among healthcare
professionals? A systematic review and meta‐analysis. Stress and Health, 33(1), 3-13.
Cassar, V., &
Buttigieg, S. C. (2015). Psychological contract breach, organizational justice
and emotional well-being. Personnel
Review, 44(2), 217-235.
Dries, N., & De
Gieter, S. (2014). Information asymmetry in high potential programs: A
potential risk for psychological contract breach. Personnel Review, 43(1), 136-162.
Festing, M., &
Schäfer, L. (2014). Generational challenges to talent management: A framework
for talent retention based on the psychological-contract perspective. Journal of World Business, 49(2),
262-271.
Gaertner, S. L.,
& Dovidio, J. F. (2014). Reducing intergroup bias: The common ingroup
identity model. Psychology Press.USA.
Gan, T. (2018). Brain
Mechanism of Economic Management Risk Decision Based on Kahneman’s Prospect
Theory. NeuroQuantology, 16(5).
1319-1329.
Gavetti, G.,
Levinthal, D. A., & Ocasio, W. (2007). Neo-Carnegie: The Carnegie school’spast,
present, and reconstructing for the future. Organization
Science, 18(3), 523–536.
Guan, P., Capezio,
A., Restubog, S. L. D., Read, S., Lajom, J. A. L., & Li, M. (2016). The
role of traditionality in the relationships among parental support, career
decision-making self-efficacy and career adaptability. Journal of Vocational Behavior, 94, 114-123.
Gurung, A.,
&Prater, E. (2017). A research framework for the impact of cultural
differences on IT outsourcing. In Global Sourcing of Services: Strategies, Issues and Challenges44(2)
49-82).
Hinojosa,
A. S., Gardner, W. L., Walker, H. J., Cogliser, C., &Gullifor, D. (2017). A review
of cognitive dissonance theory in management research: Opportunities for
further development. Journal of
Management, 43(1), 170-199.
Hopkins, M.,
&Yonker, R. (2015). Managing conflict with emotional intelligence:
Abilities that make a difference. Journal
of Management Development, 34(2), 226-244.
Koszegi,
B. (2014).Behavioral contract theory. Journal
of Economic Literature, 52(4), 1075-1118.
Newell, B. R., &
Shanks, D. R. (2014). Unconscious influences on decision making: A critical
review. Behavioral and Brain Sciences, 37(1),
1-19.
Oliveira, A. (2007).
Decision-Making Theories and Models: A Discussion of Rational and Psychological
Decision-Making Theories and Models.
Journal of Business Ethics and Organization Studies, 12 (2).1239-1244.
Pate, J., &
Scullion, H. (2018). The flex patriate psychological contract: A literature
review and future research agenda. The
International Journal of Human Resource Management, 29(8), 1402-1425.
Qin, J., Liu, X.,
&Pedrycz, W. (2015). An extended VIKOR method based on prospect theory for
multiple attribute decision making under interval type-2 fuzzy environment. Knowledge-Based Systems, 86, 116-130.
Rousseau,
D. M., &Gunia, B. C. (2016). Evidence-based practice: the psychology
of EBP implementation. Annual Review of
Psychology, 67, 667-692.
Shepherd, D. A.,
Williams, T. A., &Patzelt, H. (2015). Thinking about entrepreneurial
decision making: Review and research agenda. Journal of management, 41(1), 11-46.
Thomson, K., Outram,
S., Gilligan, C., &Levett-Jones, T. (2015). Interprofessional experiences
of recent healthcare graduates: A social psychology perspective on the barriers
to effective communication, teamwork, and patient-centred care. Journal of interprofessional care, 29(6),
634-640.
Introduction
The
major purpose of this essay is to summarize the critical review of the key
theories and concepts of critical thinking and managerial decision making.
Moreover, it will reflect those theories and concepts that has potential impact
on decision making and learning. Thus, it is self-reflective essay which reflects
the new insights gained about me and proposes the self-development plan. The
first part of the essay discusses the concepts and theories that are
significant for learning activities during the lecture and tutorial at campus while
the second part discusses about the influence by those activities. Thirdly, it
analyses those concepts/theories which have impacted or influenced my
professional and personal life. Likewise, the fourth part will elaborate the
skills that is essential for decision making and the lacking skills.
Furthermore, it will demonstrate improvement techniques for the future
self-development and knowledge. Ultimately, the arguments or insights at the
end of the essay highlights the use of learning in future career and life.
Significant Concepts/Theories for Learning
Activities
Managerial
decision-making and judgement have long tradition in management and represents
the organisational behaviour psychology and marketing psychology(Beach
&Lipshitz, 2017). Thus, all concepts and theories related to critical
thinking and managerial decision making described in the unit learning
activities are equally important and useful. Decision making is defined as the
rational process of logical reasoning which identifies and resolves the problems(Burton, Burgess, Dean,
Koutsopoulou& Hugh‐Jones, 2017). Thus, it seeks
to define, diagnose, and find the cause of the problem andas well as solves the
problem. According to Carnegie school of decision making the decision maker is
an individual with unlimited capabilities of information andmust perform the
role of profit optimizer when making a rational decision(Gavetti, Levinthal& Ocasio, 2007).
There
are many theories, approaches, and models of decision making. According to Oliveira (2017,
p.1239), “descriptive and normative methodologies such as attribution theory,
schema theory, prospect theory, ambiguity model, game theory, and expected
utility theory are significant for managerial decision making.” However, Beach
& Lipshitz (2017) argues that the classical decision-making theory which
describes the choices of an ideal hypothetical decision maker has little
relevance of to real-world decisions and rationalise the observed decisions.
Furthermore, mostly, the entrepreneurial decision making is noteworthy because
it should take consideration of time pressure, uncertainty, consequential
extremes and mainstream experimental psychology (perception, social behaviour,
cognition) to cognitive behavioural economics (Shepherd,Williams&Patzelt,
2015). On the other hand, the role of cognitive biases and heuristics in
decision making is growing fast based on hypothetical decisions (Blumenthal-Barby& Krieger, 2015). Thus, the
activities such as entrepreneurial assessment decisions, exploiting
opportunities, heuristics analysis using general decision-making framework,
review and integrate studies offer comprehensive agenda for future decision
making research.
The two major theories relevant to decision making are prospect theory and
psychological contract theory which I learned from week-8 are significant for
me. The prospect theory analyses the decision under risk and led the way to the
development of behavioural economics(Qin, Liu
& Pedrycz, 2015). Furthermore, this theory demonstrates that individual’s
decision-making is based on the value of potential losses and gains rather than
outcome(Gan, 2018). Thus, it makes probabilistic decisions under uncertain
circumstances and understands biasness as well as recognises the risk
averseness. In the marketing context, it is rational and attempts to understand
people's cognitive frames.
On the other hand, the psychological contact theory introduced by Rousseau
(2004) provides a briefing of her research to date into psychological contracts(Bordia, Restubog, Bordia & Tang, 2017).The psychological
contract is defined as promises which are implied or expressed regarding an
exchange agreement between the employing firm and agents, as well as between individual
and organisations(Rousseau &Gunia, 2016). It
is divided into explicit and implied contracts. The characteristics of this
theory are: incompleteness, multiple contract makers, voluntary choice, managing
losses when contract fail, contract model of employment and belief in agreement;
which attracted me mostly in this theory(Koszegi, 2014). Thus, the psychological contracts which are
relational, transactional and hybrid has more impact on my interpersonal and
professional life than the prospect theory in terms of decision making.
Impact on Interpersonal Relationship,
Professional Workplaces and Personal Life
The above-mentioned theories and concepts have highly impacted on
my current decision-making process into the interpersonal relationship,
professional workplaces or even in personal life. As the regulatory focus
theory of decision-making proposes that decision making and goal pursuit via
either a promotion focus(Blumenthal-Barby&
Krieger, 2015), I focused on the goal chase of being a dream of ‘human resource
consultant’. Moreover, empowering leadership is positively related to
psychological contract theory(Cassar& Buttigieg, 2015) and it reduces
persistence in the face of failure(Hopkins
&Yonker, 2015). Thus, through the learning of psychological contract theory
in practice helped me to acknowledge exchange and service performance,self-control,
more procrastination and active responding at my workplace.
The introduction to the social psychology literature in 60 years
ago Festinger’s cognitive dissonance theory (CDT) has been frequently applied
to the management to explain and predict the motivational nature of dissonance
in producing attitude and behaviour change in managerial decision making and
the broader organisational context(Hinojosa, Gardner,Walker, Cogliser&Gullifor, 2017).Additionally,
the psychological perspective theory enhances the effective communication,
customer-oriented approach, teamwork and help to uncover the potential
motivation(Thomson, Outram, Gilligan &Levett-Jones, 2015).
Thus,
personally, I got the opportunity to know more about networking, team engagement,
and growth of self-development. Professionally, it benefits to reduce the
workplace stress and psychological resilience(Burton, Burgess, Dean, Koutsopoulou& Hugh‐Jones, 2017).
Furthermore, the learning of psychological approach during the workplace
reduces“anxiety,
depression, shame, and guilt in association with negative thoughts about the
self, negative thoughts about the world, and self-blame (Beck, et. al. 2015,
p.3)”. Hence, I can easily manage my stress level during the decision making.
Inter personally, it reduces the inter group bias, logistical and psychological
difficulties (Gaertner & Dovidio, 2014).That is why, I have more impact of
this theory to manage my interpersonal relationship as well as professional
life.
Learning Lack of Decision-Making Skills
The lack of soft skill ‘self-confidence is one of the vital causes
of indecision (Guan, Capezio, Restubog, Read, Lajom& Li, 2016).According to
Al Ariss, Cascio &Paauwe(2014), the research on talent management ™ shows
that poor communication and lack of reasoning are two major factors that are
lagging in decision-making in business organisations. “Despite their
significant presence in western business schools, the needs and experiences of
international students have not been adequately reflected in the business
education literature”.
Based on the psychological contract theory of decision
making and international education experiences I perceive a variety of explicit
and implicit promises made by the central Queensland University which fulfilled
my satisfaction (Bordia, Bordia &Restubog, 2015).The learning unit
activities demonstrated that I have lack of reasoning skills while doing
decision making. Furthermore, I am not consulting on subject matter, poor
communication, and poor planning. The activities demonstrated that there is
lack of personal efficacy in relationship of many career-related behaviours
that is why I realize the failure of recognising my capabilities and talents in
career pursuits.
As I have tested the emotional intelligence it demonstrated that
the score of 28 in mindfulness which is somewhat acceptable while the social
management and social awareness are the elements that I lacked during the
assessment. It helped to the key areas of self-awareness regarding emotions,
psychological needs, habits, personal values and personality traits. Thus, I
have to develop the skills to detect, comprehend and respond to the feelings of
others as well as enhance the capacity to motivate, impact, and associate with
others and oversee strife.
From week-2, the most significant lesion I learnt is that problem
solving, initiatives, strategies and tactics are the major influences which
enhances the clarity in critical thinking. During the week three, the deductive
vs inductive arguments helped me to know more theoretical basis on critical
thinking. The different types of inductive reasoning such as inferences,
analogy, generalising from samples, and applying generalisations facilitated me
to enter the process of decision making. Moreover, the influencing and
persuading activities which I know from this unit are some of the skills which
are useful for change resistance.
Self-knowledge and self-development
Week 4 activities taught me the self-awareness which is key to
empowering thing, make aware of unhealthy blind spots or weaknesses and
ultimately cultivated the habit of learning and self-reflection.
Self-motivating, self-disciplined, self-aware and self-improving are some of
the major concepts that every decision-maker should be aware of (Koszegi, 2014).The lack of self-knowledge
which I have been facing is one of the key foundations for the better living
and self-improvement. To develop self-awareness and self-development I will
look everything objectively, keep a journal, perform daily self-reflection,
write down the plans, goals and priorities in future. Likewise, to come out
from stress I will practice mediation, take psychometric and personality tests,
and ask feedback from my work. Moreover, I will take the emotional intelligence
training as well.
How to Improve?
“Bookboon’s Long-Term Solution showed that eLearning is a
relatively new system of teaching employees the vital soft skills such as
making decisions.” (Gurung &Prater, 2017, p.137). Moreover, the
self-directed change is essential to come out from those barriers that is why
the four important points are essential to improve which I will follow in
future: First is informational which will increase awareness and knowledge
towards the risks while second component will focus on development of
self-regulatory and social skills that is essential to follow the preventive
action.
The third significant theme is skill enhancement and building resilient
self-efficacy which will be gained through guided practice and continuous
corrective feedback. Finally, the social supports for desired personal changes
will be essential to progress. Similarly, temperance, responsibility and
perspective are three major aspects of psycho-social aspect of judgement. Thus,
I will focus on both cognitive and non cognitive factors of good decision making
by examining the existing evidence.
The human resource challenges in managing the issues of relocation
and ‘flexipatriates and psychological contract literature’ will be the agenda
of future research (Pate & Scullion, 2018). As a human resource student, I
even faced this issue and will research on it in future. TM activities are crucial to ‘retain talented
in the case so-called Baby Boomer Generation’ (Dries & De Gieter, 2014).
Outsourcing, virtual teams and culture are the major points to be studies to
grow business.
Conclusion
In conclusion, the essay survey of critical thinking and
managerial decision making based on the presentation slides and activities
during the teaching learning method of Unit 20135 of CQUniversity. From this
Unit, I am more influenced by the psychological contract theory of individual
decision making because it is frequently used and implemented in day-to-day
personal and profession life. Likewise, I learned the team engagement and
management, leadership skills, motivation skills, decision-making skills,and
communication skills from this unit. By the assessment of different leadership
and critical thinking, I find lack of communication, cultural adjustment,
self-awareness, self-efficacy and self-confidence in my personal and
professional life.
Thus, to improve those abilities I will take training on
communication and cultural adjustment. Moreover, I will assess my decision-making skills by taking different psychosocial assessments. Finally,
overall my impression to this unit is one of the most significant and fruitful
for the future career as well.
Reference List
Al Ariss, A., Cascio,
W. F., &Paauwe, J. (2014). Talent management: Current theories and future
research directions. Journal of World
Business, 49(2), 173-179.
Angeli, C.,
&Valanides, N. (2009). Instructional effects on critical thinking:
performanceon ill-defined issues. Learning
and Instruction, 19(1), 322-334.
Beach, L. R.,
&Lipshitz, R. (2017). Why classical decision theory is an inappropriate
standard for evaluating and aiding most human decision making. Decision making in aviation, 85,
835-847.
Beck, J. G., Reich,
C. M., Woodward, M. J., Olsen, S. A., Jones, J. M., & Patton, S. C. (2015).
How do negative emotions relate to dysfunctional posttrauma cognitions? An
examination of interpersonal trauma survivors. Psychological trauma: theory, research, practice, and policy, 7(1),
3.
Blumenthal-Barby, J.
S., & Krieger, H. (2015). Cognitive biases and heuristics in medical
decision making: a critical review using a systematic search strategy. Decision Making, 35(4), 539-557.
Bordia,
P., Restubog, S. L. D., Bordia, S., & Tang, R. L. (2017). Effects of
resource availability on social exchange relationships: The case of employee
psychological contract obligations. Journal
of Management, 43(5), 1447-1471.
Bordia, S., Bordia,
P., &Restubog, S. L. D. (2015). Promises from afar: a model of
international student psychological contract in business education. Studies in Higher Education, 40(2),
212-232.
Burton, A., Burgess,
C., Dean, S., Koutsopoulou, G. Z., & Hugh‐Jones, S. (2017). How effective
are mindfulness‐based interventions for reducing stress among healthcare
professionals? A systematic review and meta‐analysis. Stress and Health, 33(1), 3-13.
Cassar, V., &
Buttigieg, S. C. (2015). Psychological contract breach, organizational justice
and emotional well-being. Personnel
Review, 44(2), 217-235.
Dries, N., & De
Gieter, S. (2014). Information asymmetry in high potential programs: A
potential risk for psychological contract breach. Personnel Review, 43(1), 136-162.
Festing, M., &
Schäfer, L. (2014). Generational challenges to talent management: A framework
for talent retention based on the psychological-contract perspective. Journal of World Business, 49(2),
262-271.
Gaertner, S. L.,
& Dovidio, J. F. (2014). Reducing intergroup bias: The common ingroup
identity model. Psychology Press.USA.
Gan, T. (2018). Brain
Mechanism of Economic Management Risk Decision Based on Kahneman’s Prospect
Theory. NeuroQuantology, 16(5).
1319-1329.
Gavetti, G.,
Levinthal, D. A., & Ocasio, W. (2007). Neo-Carnegie: The Carnegie school’spast,
present, and reconstructing for the future. Organization
Science, 18(3), 523–536.
Guan, P., Capezio,
A., Restubog, S. L. D., Read, S., Lajom, J. A. L., & Li, M. (2016). The
role of traditionality in the relationships among parental support, career
decision-making self-efficacy and career adaptability. Journal of Vocational Behavior, 94, 114-123.
Gurung, A.,
&Prater, E. (2017). A research framework for the impact of cultural
differences on IT outsourcing. In Global Sourcing of Services: Strategies, Issues and Challenges44(2)
49-82).
Hinojosa,
A. S., Gardner, W. L., Walker, H. J., Cogliser, C., &Gullifor, D. (2017). A review
of cognitive dissonance theory in management research: Opportunities for
further development. Journal of
Management, 43(1), 170-199.
Hopkins, M.,
&Yonker, R. (2015). Managing conflict with emotional intelligence:
Abilities that make a difference. Journal
of Management Development, 34(2), 226-244.
Koszegi,
B. (2014).Behavioral contract theory. Journal
of Economic Literature, 52(4), 1075-1118.
Newell, B. R., &
Shanks, D. R. (2014). Unconscious influences on decision making: A critical
review. Behavioral and Brain Sciences, 37(1),
1-19.
Oliveira, A. (2007).
Decision-Making Theories and Models: A Discussion of Rational and Psychological
Decision-Making Theories and Models.
Journal of Business Ethics and Organization Studies, 12 (2).1239-1244.
Pate, J., &
Scullion, H. (2018). The flex patriate psychological contract: A literature
review and future research agenda. The
International Journal of Human Resource Management, 29(8), 1402-1425.
Qin, J., Liu, X.,
&Pedrycz, W. (2015). An extended VIKOR method based on prospect theory for
multiple attribute decision making under interval type-2 fuzzy environment. Knowledge-Based Systems, 86, 116-130.
Rousseau,
D. M., &Gunia, B. C. (2016). Evidence-based practice: the psychology
of EBP implementation. Annual Review of
Psychology, 67, 667-692.
Shepherd, D. A.,
Williams, T. A., &Patzelt, H. (2015). Thinking about entrepreneurial
decision making: Review and research agenda. Journal of management, 41(1), 11-46.
Thomson, K., Outram,
S., Gilligan, C., &Levett-Jones, T. (2015). Interprofessional experiences
of recent healthcare graduates: A social psychology perspective on the barriers
to effective communication, teamwork, and patient-centred care. Journal of interprofessional care, 29(6),
634-640.
Comments