Lecture Plan Overview:

Total Duration: 1 hour 30 minutes

1. Introduction to Decision-Making (10 minutes)

 Briefly explain the significance of decision-making in
management.
 Introduce the decision-making process.
2. The Decision-Making Process (20 minutes)
 Discuss each step of the decision-making process from identifying
a problem to evaluating decision effectiveness.
 Provide real-world examples for each step to illustrate the
concepts.
3. Approaches to Decision Making (15 minutes)
 Explain the concepts of Rationality, Bounded Rationality, Intuition,
Evidence-Based Management, and Crowdsourcing.
 Discuss how these approaches apply in different managerial
situations.
4. Types of Decisions (10 minutes)
 Differentiate between Structured Problems and Programmed
Decisions vs. Unstructured Problems and Nonprogrammed
Decisions.
 Highlight the importance of understanding the nature of a
problem in deciding the approach.
5. Decision-Making Styles and Biases (10 minutes)
 Briefly explain different decision-making styles.
 Discuss common decision-making biases and errors, emphasizing
the importance of awareness in minimizing their impact.
6. Class Activity 1: Decision-Making Scenario Analysis (15 minutes)
 Divide students into small groups.
 Present each group with a different business scenario requiring a
decision.
 Ask groups to identify the problem, list possible decisions, and
select an alternative based on one of the decision-making
approaches.
  Groups present their decision-making process and rationale.
7. Class Activity 2: Identifying Biases and Errors (10 minutes)
 Present descriptions of decision-making scenarios that include
common biases and errors.
 Students individually identify the bias/error involved.
 Discuss as a class, explaining how these biases/errors could be
mitigated.
8. Q&A and Conclusion (5 minutes)
 Open the floor for questions.
 Summarize key takeaways from the lecture and activities.

Additional Notes:
 Preparation: Before the class, prepare diverse business scenarios that
cover various types of decisions, ensuring they are relevant to the
students' future careers.
 Engagement: Encourage active participation by asking questions
throughout the lecture and providing instant feedback during activities.
 Resources: Utilize slides, videos, or case studies to enhance
understanding and engagement.
 Assessment: Consider a brief quiz or reflection assignment at the end
to assess understanding and reinforce learning.

This plan aims to balance theoretical insights with practical applications,

ensuring students grasp the complexities of decision-making in management
contexts.