MGT 403 Decision Antecedents & Decision Making in Organizations Paper TERM PAPER REQUIREMENTS: To write a paper about my decision, which I made in my life.

MGT 403 Decision Antecedents & Decision Making in Organizations Paper TERM PAPER REQUIREMENTS: To write a paper about my decision, which I made in my life. The decision should be related to personal life ( personally, I have chosen to write about my decision to buy a home insurance). In that paper must be discussed and analyzed the details of the decision and the decision-making process using some of the concepts learned in class of MGT 403 (Decision Making in Organizations). You need to select a decision which you believe is interesting and can be discussed considering one or some of the concepts discussed in this course. Depending on the decision and the course concepts which you intend to discuss in the paper, the information you need may include the decision antecedents, conditions and the context in which the decision(s) was made, details of the decision making process(es), nature of relationships and interactions between parties involved in the decision(s), consequences of the decision(s), the decision maker’s reactions to the consequences, etc. In addition, The Term Paper must be 4 pages and above including Term Paper Proposal. However, the “Term Paper Proposal” has already done and proved my Lecturer. What should be considered is the connection from the term paper proposal to the main body and to the conclusion of the term paper. Although, the term paper proposal was required to write in a single space, but the term paper proposal should be written a double space. TEXT & MATERIALS Required: Judgment in Managerial Decision Making (8th ed.) by Max Bazerman &
Don Moore. Wiley, 2013. (ISBN: 978-1-118-06570-9).
TERM PAPER REQUIREMENTS:
To write a paper about my decision, which I made in my life. The decision should be related to
personal life (i.e. to buy a home insurance). In that paper must be discussed and analyzed the details of
the decision and the decision-making process using some of the concepts learned in class of MGT 403
(Decision Making in Organizations). You need to select a decision which you believe is interesting and
can be discussed considering one or some of the concepts discussed in this course. Depending on the
decision and the course concepts which you intend to discuss in the paper, the information you need
may include the decision antecedents, conditions and the context in which the decision(s) was made,
details of the decision making process(es), nature of relationships and interactions between parties
involved in the decision(s), consequences of the decision(s), the decision maker’s reactions to the
consequences, etc.
Term paper proposal Requirements: must be submitted in Word format (.doc or .docx) and must be
one page (EVERYTHING included), Times New Roman size 12, single space with 0 spacing before and
after, no blank lines, 1-inch margin all around, letter size portrait layout. If figures, tables, etc. are
included, they must be within one-page limit. Do not use citations nor include references in proposal.
MY TERM PAPER PROPOSAL:
In this term paper, my topic is about “Decisions which I made to buy home insurance. Such a decision is
appropriate to write in this paper due to be linked to some of the topics in our class of MGT 403:
Decision Making in Organizations during Spring 2020 Semester. Those topics are such as heuristics,
biases, improving decision making, and risk. Decision making is one of the most important roles in both
individuals and organizational life. A good decision is the result of carefully selecting a preferred course
of action after studying what might happen were a variety of alternatives chosen. This is because
decision making is the driving force behind the attainment of goals at both personal and organizational
levels. Given the crucial role decision-making skills paly in our lives, decision-making skills are
undoubtedly part of the skills that every individual in a leadership position must-have. Decision-making
skills enable an individual to evaluate his or her alternative course of action and pick the most viable
one. As human beings, we all have basic needs that include both physical and economic security, food,
shelter, and clothing. According to the society of Actuaries, risk is the possibility of losing economic
security. We encounter many economic risks throughout our day to day activities, whether the risk is a
car accident, sickness, house fire, or even death. For such reasons, I decided to buy home insurance,
which was created to eliminate risk or substitute certainty for uncertainty. Personally, I got such a
thought after getting a very sad story concerning our neighbors, who were couple across the street to
lose home due to fire. According to my Real Estate Agent called Barbara Mann, those couple were called
Frank and Emma McGraw, and they were about in 70’s year old. From that point, my wife and I decided
to buy home insurance premium, as a decision after experienced one of our neighbors across the street
to lose their house. There were not any improved helps from insurance companies, except to be hosted
by their friends without knowing their outcome. As quoted by Max H. Bazerman & Don A. Moore in the
book of “Judgment in Managerial Decision Making” (Chapter 12, page 210, and 5th paragraph),
judgement, taste, experience, and a lot of other things too numerous to mention are factors in the
decisions (Bazerman, 1985). As a family, after experienced of a house fire accident, we decided to buy
home insurance coverage right away to avoid anticipated regret.
Always, risks are unpredictable in that way; they can occur anytime. Moreover, they leave people with
huge losses, some of which are difficult to recover for example my neighbors who their house got fire
accident. Insurance premium is defined as a certain loss that you accept in an exchange for the
reduction of a small probability of a large loss. What is most likely to occur, and how often it can occur.
Therefore, from the understanding the relationship between risk and insurance, brought me to the
regret avoidance as explained in the topic of “Motivational and Emotional Influence on Decision
Making”. Anticipated regret is commonly experiencing when considering risks, especially when we are
naturally cautious or tend to think negatively. In relation to our behavior to buy home insurance, was
the experience we got from the victim of fire accident from our neighbor at that time, and we felt to
wear their shoes concerning the regret that we thought we might feel in the future, typically about
decisions we were currently considering making at that time. In other hands, inaction also has its own
risks and much bd can come from doing nothing. Personally, I believe that most of the time people
gaining from taking risks, and the greater skill is in seeing these realistically, seeking to reduce their
probability and being prepared should they happen. In addition, our decision to buy home insurance
premium, was after experiencing the loss of our neighbors’ house across the street. As a result, we
regretted from what happened and such a situation helped us to make wise choices, especially when we
were biased by strong emotions, such as fear of losing our house. My behavior is always motivating me
to believe that people’s success or failure is greatly influenced by the kind of decision they make.
My Professor’s Feedbacks From my Term Paper Proposal:
1) The part you write about impact of anticipated regret avoidance on your decision to buy insurance, is
very good.
2) There is a discussion in the textbook about how vividness of possible loss or damage affects our
decisions to buy insurance. For example, after a huge earthquake, people are more likely to buy
earthquake insurance. It seems the fire in your neighbor’s house increased the vividness of threat of fire
in your mind, which in turn inclined you to buy the insurance. You can add discussion about the impact
of vividness on human decisions, and then relate it to your decision to buy insurance.

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