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  • Decision Making: Analysis and Intuition

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    rahmear
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    This document discusses different approaches to decision making, including strategic analysis methods like SWOT, PEST, CBA, and CEA, as well as intuitive thinking. It describes two types of thinking - System 1, which is fast, intuitive thinking, and System 2, which is slower, more analytical thinking. It also discusses loss aversion theory, where people are more likely to choose an option that comes with a free gift rather than a discounted price, even if the discount is of greater value, because they don't want to miss out on the free item.

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    DECISION MAKING

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    This document discusses different approaches to decision making, including strategic analysis methods like SWOT, PEST, CBA, and CEA, as well as intuitive thinking. It describes two types of thinking - System 1, which is fast, intuitive thinking, and System 2, which is slower, more analytical thinking. It also discusses loss aversion theory, where people are more likely to choose an option that comes with a free gift rather than a discounted price, even if the discount is of greater value, because they don't want to miss out on the free item.

    Copyright:

    © All Rights Reserved
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    11 views34 pages

    Decision Making: Analysis and Intuition

    Uploaded by

    rahmear
    This document discusses different approaches to decision making, including strategic analysis methods like SWOT, PEST, CBA, and CEA, as well as intuitive thinking. It describes two types of thinking - System 1, which is fast, intuitive thinking, and System 2, which is slower, more analytical thinking. It also discusses loss aversion theory, where people are more likely to choose an option that comes with a free gift rather than a discounted price, even if the discount is of greater value, because they don't want to miss out on the free item.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    Download as pptx, pdf, or txt
    of 34

    DECISION

    MAKING
    A N A LY S I S A N D I N T U I T I O N
    How should we engage in decision making?
    How does strategic analysis and intuitive thinking work?
    Strategic Analysis and Methods
    Evans (2008) – 2 kinds of thinking
    process
    ◦ System 1
    ◦ System 2
    ANALYTICAL METHODS
    SWOT
    PEST
    CBA
    CEA
    SEU
    LOSS AVERSION
    Imagine you’re at the drugstore and you’re buying a bottle of shampoo. You see that your
    favorite brand is having a promotion: One bottle is 20 percent off, but one bottle is the regular
    price, but it comes with a free travel conditioner. Loss aversion theory tells us that you’re more
    likely to choose the bottle with the free gift, even if the value of the gift is less than that of the
    discount. That’s because you don’t want to miss out on the chance to get a free gift, no matter
    the value. What’s more, a free gift feels more tangible than a discount, 
    making consumers feel like they scored a deal with their decisions.

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