Debiasing Decision Makers Through Knowledge Management

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Author(s): Meliha Handzic (Sarajevo School of Science and Technology, Bosnia and Herzegovina)
Copyright: 2008
Pages: 14
Source title: Encyclopedia of Decision Making and Decision Support Technologies
Source Author(s)/Editor(s): Frederic Adam (University College Cork, Ireland)and Patrick Humphreys (London School of Economics, UK)
DOI: 10.4018/978-1-59904-843-7.ch016

Keywords: Accounting and Finance / Business & Management / Business Science Reference / Decision Support Systems

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Abstract

The need to improve decision making is a longstanding concern in decision support research. As the accelerated technological development and fierce competition coming from global sources are becoming more apparent in the new 21st century, enhanced decision-making capabilities are required more than ever before to enable organisations to meet the new challenges. Decision making can be viewed as a dynamic and iterative process comprising: (1) identification phase, which involves decision problem recognition and diagnosis activities; (2) development phase, which concerns search and design activities; and (3) selection phase, which comprises screening, evaluation, and authorisation activities (Mintzberg et al., 1976). The quality of the subsequent decisions will depend on the nature of the preceding diagnostic, design, and selection activities.

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Debiasing Decision Makers Through Knowledge Management

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