• Title/Summary/Keyword: decision-making skills

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Interpreting Bounded Rationality in Business and Industrial Marketing Contexts: Executive Training Case Studies (집행관배훈안례연구(阐述工商业背景下的有限合理性):집행관배훈안례연구(执行官培训案例研究))

  • Woodside, Arch G.;Lai, Wen-Hsiang;Kim, Kyung-Hoon;Jung, Deuk-Keyo
    • Journal of Global Scholars of Marketing Science
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    • v.19 no.3
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    • pp.49-61
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    • 2009
  • This article provides training exercises for executives into interpreting subroutine maps of executives' thinking in processing business and industrial marketing problems and opportunities. This study builds on premises that Schank proposes about learning and teaching including (1) learning occurs by experiencing and the best instruction offers learners opportunities to distill their knowledge and skills from interactive stories in the form of goal.based scenarios, team projects, and understanding stories from experts. Also, (2) telling does not lead to learning because learning requires action-training environments should emphasize active engagement with stories, cases, and projects. Each training case study includes executive exposure to decision system analysis (DSA). The training case requires the executive to write a "Briefing Report" of a DSA map. Instructions to the executive trainee in writing the briefing report include coverage in the briefing report of (1) details of the essence of the DSA map and (2) a statement of warnings and opportunities that the executive map reader interprets within the DSA map. The length maximum for a briefing report is 500 words-an arbitrary rule that works well in executive training programs. Following this introduction, section two of the article briefly summarizes relevant literature on how humans think within contexts in response to problems and opportunities. Section three illustrates the creation and interpreting of DSA maps using a training exercise in pricing a chemical product to different OEM (original equipment manufacturer) customers. Section four presents a training exercise in pricing decisions by a petroleum manufacturing firm. Section five presents a training exercise in marketing strategies by an office furniture distributer along with buying strategies by business customers. Each of the three training exercises is based on research into information processing and decision making of executives operating in marketing contexts. Section six concludes the article with suggestions for use of this training case and for developing additional training cases for honing executives' decision-making skills. Todd and Gigerenzer propose that humans use simple heuristics because they enable adaptive behavior by exploiting the structure of information in natural decision environments. "Simplicity is a virtue, rather than a curse". Bounded rationality theorists emphasize the centrality of Simon's proposition, "Human rational behavior is shaped by a scissors whose blades are the structure of the task environments and the computational capabilities of the actor". Gigerenzer's view is relevant to Simon's environmental blade and to the environmental structures in the three cases in this article, "The term environment, here, does not refer to a description of the total physical and biological environment, but only to that part important to an organism, given its needs and goals." The present article directs attention to research that combines reports on the structure of task environments with the use of adaptive toolbox heuristics of actors. The DSA mapping approach here concerns the match between strategy and an environment-the development and understanding of ecological rationality theory. Aspiration adaptation theory is central to this approach. Aspiration adaptation theory models decision making as a multi-goal problem without aggregation of the goals into a complete preference order over all decision alternatives. The three case studies in this article permit the learner to apply propositions in aspiration level rules in reaching a decision. Aspiration adaptation takes the form of a sequence of adjustment steps. An adjustment step shifts the current aspiration level to a neighboring point on an aspiration grid by a change in only one goal variable. An upward adjustment step is an increase and a downward adjustment step is a decrease of a goal variable. Creating and using aspiration adaptation levels is integral to bounded rationality theory. The present article increases understanding and expertise of both aspiration adaptation and bounded rationality theories by providing learner experiences and practice in using propositions in both theories. Practice in ranking CTSs and writing TOP gists from DSA maps serves to clarify and deepen Selten's view, "Clearly, aspiration adaptation must enter the picture as an integrated part of the search for a solution." The body of "direct research" by Mintzberg, Gladwin's ethnographic decision tree modeling, and Huff's work on mapping strategic thought are suggestions on where to look for research that considers both the structure of the environment and the computational capabilities of the actors making decisions in these environments. Such research on bounded rationality permits both further development of theory in how and why decisions are made in real life and the development of learning exercises in the use of heuristics occurring in natural environments. The exercises in the present article encourage learning skills and principles of using fast and frugal heuristics in contexts of their intended use. The exercises respond to Schank's wisdom, "In a deep sense, education isn't about knowledge or getting students to know what has happened. It is about getting them to feel what has happened. This is not easy to do. Education, as it is in schools today, is emotionless. This is a huge problem." The three cases and accompanying set of exercise questions adhere to Schank's view, "Processes are best taught by actually engaging in them, which can often mean, for mental processing, active discussion."

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A Study on the Impact of Artificial Intelligence on Decision Making : Focusing on Human-AI Collaboration and Decision-Maker's Personality Trait (인공지능이 의사결정에 미치는 영향에 관한 연구 : 인간과 인공지능의 협업 및 의사결정자의 성격 특성을 중심으로)

  • Lee, JeongSeon;Suh, Bomil;Kwon, YoungOk
    • Journal of Intelligence and Information Systems
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    • v.27 no.3
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    • pp.231-252
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    • 2021
  • Artificial intelligence (AI) is a key technology that will change the future the most. It affects the industry as a whole and daily life in various ways. As data availability increases, artificial intelligence finds an optimal solution and infers/predicts through self-learning. Research and investment related to automation that discovers and solves problems on its own are ongoing continuously. Automation of artificial intelligence has benefits such as cost reduction, minimization of human intervention and the difference of human capability. However, there are side effects, such as limiting the artificial intelligence's autonomy and erroneous results due to algorithmic bias. In the labor market, it raises the fear of job replacement. Prior studies on the utilization of artificial intelligence have shown that individuals do not necessarily use the information (or advice) it provides. Algorithm error is more sensitive than human error; so, people avoid algorithms after seeing errors, which is called "algorithm aversion." Recently, artificial intelligence has begun to be understood from the perspective of the augmentation of human intelligence. We have started to be interested in Human-AI collaboration rather than AI alone without human. A study of 1500 companies in various industries found that human-AI collaboration outperformed AI alone. In the medicine area, pathologist-deep learning collaboration dropped the pathologist cancer diagnosis error rate by 85%. Leading AI companies, such as IBM and Microsoft, are starting to adopt the direction of AI as augmented intelligence. Human-AI collaboration is emphasized in the decision-making process, because artificial intelligence is superior in analysis ability based on information. Intuition is a unique human capability so that human-AI collaboration can make optimal decisions. In an environment where change is getting faster and uncertainty increases, the need for artificial intelligence in decision-making will increase. In addition, active discussions are expected on approaches that utilize artificial intelligence for rational decision-making. This study investigates the impact of artificial intelligence on decision-making focuses on human-AI collaboration and the interaction between the decision maker personal traits and advisor type. The advisors were classified into three types: human, artificial intelligence, and human-AI collaboration. We investigated perceived usefulness of advice and the utilization of advice in decision making and whether the decision-maker's personal traits are influencing factors. Three hundred and eleven adult male and female experimenters conducted a task that predicts the age of faces in photos and the results showed that the advisor type does not directly affect the utilization of advice. The decision-maker utilizes it only when they believed advice can improve prediction performance. In the case of human-AI collaboration, decision-makers higher evaluated the perceived usefulness of advice, regardless of the decision maker's personal traits and the advice was more actively utilized. If the type of advisor was artificial intelligence alone, decision-makers who scored high in conscientiousness, high in extroversion, or low in neuroticism, high evaluated the perceived usefulness of the advice so they utilized advice actively. This study has academic significance in that it focuses on human-AI collaboration that the recent growing interest in artificial intelligence roles. It has expanded the relevant research area by considering the role of artificial intelligence as an advisor of decision-making and judgment research, and in aspects of practical significance, suggested views that companies should consider in order to enhance AI capability. To improve the effectiveness of AI-based systems, companies not only must introduce high-performance systems, but also need employees who properly understand digital information presented by AI, and can add non-digital information to make decisions. Moreover, to increase utilization in AI-based systems, task-oriented competencies, such as analytical skills and information technology capabilities, are important. in addition, it is expected that greater performance will be achieved if employee's personal traits are considered.

A Study on Consumers Purchasing Behavior of Mobile Shopping - User Characteristics, Flow, Perceived Risk, Involvement - (모바일 쇼핑의 소비자 구매행동에 관한 연구 - 사용자 특성, 플로우 경험, 지각된 위험, 관여 유형를 중심으로 -)

  • Song, Dong-Hyo;Kang, Sun-Hee
    • Management & Information Systems Review
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    • v.34 no.3
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    • pp.79-100
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    • 2015
  • This study is to examine the factors that influence purchasing behavior and decision-making when consumers buy goods through mobile shopping, define purchasing decision-making with the steps of problem recognition, information search, alternative assessment, and purchasing behavior to understand mobile consumer behavior, and investigate how the factors of each step play roles and influence consumers' purchasing decision-making through positive analysis to figure out consumer purchasing behavior in mobile shopping. The study results, First, the user characteristics of information search influence flow. Second, in the relations between the user characteristics in the step of information search and perceived risk in alternative assessment, if recognition on gains is higher, perceived risk for time loss gets lower, and when the level of skills is higher, perceived risk gets higher, and it has been partly adopted that innovativeness does not influence risk perception. Third, in the relations between flow experience and purchasing intention, it has been found to be partially significant that remote presence and challenge do not influence purchasing intention but do influence excitement, attention concentration, and control and also do influence perceived risk and purchasing intention. Fourth, according to the results of analyzing the difference of consumer purchasing behavior by the types of involvement, practical involvement and sensual involvement, user characteristics and flow, and perceived risk differ by the types of products in terms of the search process, thereby changing purchasing intention. Lastly, the significance and limitations of this study was discussed.

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A Study for the Development of a School-based Health Education of AIDS (AIDS의 학교 보건교육 도입에 관한 연구)

  • Kim, Hyeon Suk
    • Journal of the Korean Society of School Health
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    • v.9 no.2
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    • pp.249-266
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    • 1996
  • AIDS and the spectrum of Human Immunodeficiency Virus(HIV) infections present a monumental challenge to the health of the Korean public. In response to this special challenge, I think public education and voluntary behavior changes are the most effective measures to fight the spread of the disease. Adolescents represent a critical risk group for prevention and intervention programming. Research indicates sexually active adolescents, homosexual contact, illicit drug use are an gradually increasing. These characteristically adolescent risk-taking behaviors suggest the need for schools and communities to mobilize intervention strategies. Schools are highly efficient ways to reach a majority of young people in Korea with HIV prevention programs. These programs include substantial attention to sexual and drug use behaviors with the long term objective of a multidimensional school health program. Information resulting from risk behavior surveillance activities and guidance on school health curricula is particularly useful. What is needed for adolescents is a revamping of education to give students the critical thinking and analytic skills that allow them to apply knowledge, make decisions, and think independently. The best HIV preventive education provides young people with opportunities to learn and practice just those skills. In the early stages of HIV education were focused solely on information. Providing information is easy but unfortunately, behavior change is not that simple to activate. Information must be combined with values exploration and skilly building, including responsible decision making, negotiation, refusal, and critical thinking skills. The same knowledge, attitudes and skills needed for effective HIV prevention also prevent or reduce other risks, including other sexually transmitted diseases, unwanted pregnancies, and alcohol or other drug use. The role of other youth serving organizations in HIV prevention is also important: parental and youth involvement is needed; it's important to presidential and governament leadership is essential to prevention education; promote integrated adolescent programs, to enhance health and education sector collaboration; and of course, we need to expand research on adolescent health and engage the media in health promotion. Among these changes, a school-based systematic health education of AIDS is certainly one of the essentials.

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Investment Priorities and Weight Differences of Impact Investors (임팩트 투자자의 투자 우선순위와 비중 차이에 관한 연구)

  • Yoo, Sung Ho;Hwangbo, Yun
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.18 no.3
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    • pp.17-32
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    • 2023
  • In recent years, the need for social ventures that aim to grow while solving social problems through the efficiency and effectiveness of commercial organizations in the market has increased, while there is a limit to how much the government and the public can do to solve social problems. Against this background, the number of social venture startups is increasing in the domestic startup ecosystem, and interest in impact investors, which are investors in social ventures, is also increasing. Therefore, this research utilized judgment analysis technology to objectively analyze the validity and weight of judgment information based on the cognitive process and decision-making environment in the investment decision-making of impact investors. We proceeded with the research by constructing three classifications; first, investment priorities at the initial investment stage for financial benefit and return on investment as an investor, second, the political skills of the entrepreneurs (teams) for the social impact and ripple power, and social venture coexistence and solidarity, third, the social mission of a social venture that meets the purpose of an impact investment fund. As a result of this research, first of all, the investment decision-making priorities of impact investors are the expertise of the entrepreneur (team), the potential rate of return when the entrepreneur (team) succeeds, and the social mission of the entrepreneur (team). Second, impact investors do not have a uniform understanding of the investment decision-making factors, and the factors that determine investment decisions are different, and there are differences in the degree of the weighting. Third, among the various investment decision-making factors of impact investment, "entrepreneur's (team's) networking ability", "entrepreneur's (team's) social insight", "entrepreneur's (team's) interpersonal influence" was relatively lower than the other four factors. The practical contribution through this research is to help social ventures understand the investment determinant factors of impact investors in the process of financing, and impact investors can be expected to improve the quality of investment decision-making by referring to the judgment cases and analysis of impact investors. The academic contribution is that it empirically investigated the investment priorities and weighting differences of impact investors.

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Effects of Action Learning Approaches on Learning Outcomes in Nursing Management Courses (액션러닝 기반 간호관리학 강의 및 실습 운영의 효과)

  • Jang, Keum Seong;Park, Soon Joo
    • Journal of Korean Academy of Nursing Administration
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    • v.18 no.4
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    • pp.442-451
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    • 2012
  • Purpose: The purpose of this study was to identify effects of action learning approaches on learning outcomes of students taking nursing management courses. Methods: The questionnaire surveys were completed between March 2011 and June 2012 by 109 undergraduate seniors in the nursing department of C University. Survey data were obtained 3 times: before, in and after the study of nursing management. The course consisted of lectures and clinical practices. Learning outcomes were measured through problem solving skills, team efficacy, and class satisfaction. Collected data were analyzed using repeated measures ANOVA with the SPSS 20.0 program Results: Scores for problem solving skills (F=13.67, p<.001) and team efficacy (F=4.49, p=.012) showed statistically significant increases after the course. The scores also increased significantly after the lectures for 5 of 9 problem solving skill subscales: analysis skill, divergent thinking, decision making, assessment, feedback, and after the clinical practices for 2 subscales: divergent thinking, and execution and risk taking. Class satisfaction score also increased after both the lectures and the clinical practices. Conclusion: The findings from this study suggest that an action learning approaches for nursing management courses would be a useful teaching and learning method to achieve learning outcomes.

A Survey of Evidence-Based Practice of Physical Therapist (물리치료사의 증거에 근거한 물리치료 실태조사)

  • Kwon, Mi-Ji
    • The Journal of Korean Physical Therapy
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    • v.18 no.3
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    • pp.23-36
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    • 2006
  • Purpose: The purpose of this study was to describe physical therapists' self-reported: (1) attitudes and beliefs about evidence~based practice(EBP), (2) education, knowledge, and skills related to obtaining and evaluating evidence, (3) attention to the literature relevant to practice, (4) access to and availability of information and (5) perceptions of the barriers to evidence-based practice. Methods: Our study sample consisted of a random sample of 90 physical therapists in gwang-ju and junnam. Participants completed a questionnaire. Responses were summarized for each item, and logistic regression analyses were used to examine relationships among variables. Results: According to the respondents, the primary barrier to implementing EBP was lack of time. The results suggest they believe that the use of evidence in practice was necessary, that the literature is helpful to them in their practice and decision making, and that quality of patient care is better when evidence is used. Many of the beliefs, skills and behaviors we examined were related to the education courses and sex. The majority of the respondents had access to online information at home. Conclusion: They noted that they needed to increase the use of evidence in their daily practice.

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The development of fall detection system using 3-axis acceleration sensor and tilt sensor (3축 가속도센서와 기울기 센서를 이용한 낙상감지시스템 개발)

  • Ryu, Jeong Tak
    • Journal of Korea Society of Industrial Information Systems
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    • v.18 no.4
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    • pp.19-24
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    • 2013
  • The problem of elderly people with weak physical health has become a very important issue in the aging society. Elderly people with very low judgment and decision-making skills often falls because of the degradation of the strength and balance. Due to the fall triggered off fractures, parenchyma damage, and casualties, generally fast emergency treatment is needed. In this paper, an automatic fall detection system consisting of a triaxial accelerometer and tilt sensor. Using the fall system, the performance of the system was analyzed in many situations. The experimental results showed more than 92% analytical skills.

The Influences of Critical Thinking Ability, Communication Skills, Leadership, and Professionalism on Clinical Practice Ability in Nursing Students (간호학생의 비판적 사고능력, 의사소통능력, 리더십, 전문직관이 임상실무능력에 미치는 영향)

  • Lee, Jia;Jang, Mi Heui
    • Journal of East-West Nursing Research
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    • v.23 no.2
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    • pp.124-133
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    • 2017
  • Purpose: The purpose of this study was to identify factors that affect nursing students' clinical practice ability. Methods: The data were collected from 303 nursing students who had more than 500 hours of experience in clinical practicum at 4 universities in Seoul and the metropolitan area. The instruments consisted of 27 items of critical thinking, 19 items of professionalism, 40 items of self reported leadership, 20 items of communication evaluation tool, and 61 items of nursing practice performance evaluation. Results: For the clinical practicum, most difficult for nursing students were cardiopulmonary resuscitation, fecal enema, stoma care, and blood transfusion. Clinical practice abilities were positively correlated with nursing professionalism(r=.26, p<.001), leadership (r=.16, p=.007) and critical thinking(r=.12, p=.031). Professionalism(${\beta}=.32$, p=.001) was the most significant factor influencing the clinical practice ability of nursing students. Critical thinking was the second largest factor but not significant(${\beta}=.16$, p=.058). Conclusion: The findings suggest that the nursing curriculum should include nursing knowledge and nursing skills as well as various case-based or field-based decision making training programs to cultivate professionalism, critical thinking and other abilities for clinical practice.

Evaluation of Modified Problem-Based Learning Facilitated by One Instructor (One Instructor에 의해 진행된 Modified Problem-Based Learning 교육기법 평가)

  • Kim, Hyunah
    • Korean Journal of Clinical Pharmacy
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    • v.23 no.3
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    • pp.278-283
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    • 2013
  • Background: Problem-based learning (PBL) has introduced as an important part of pharmacy education in Korea as it is effective method to help students gain and apply knowledge with development of problem-solving, critical-thinking, and decision-making skills. In order to provide the effective PBL, a number of trained facilitators and suitable PBL rooms are required. However, these become a barrier in Korea as most pharmacy schools have one or two faculty members who majored in clinical pharmacy. Objective: This study was performed to implement and evaluate a modified PBL in gastrointestinal (GI) pharmacotherapy class facilitated by one instructor. Methods: A general information of traditional PBL for 6 hours through 3 days is introduced before initiating GI pharmacotherapy class. After 3 hour-GI pharmacotherapy classes for 6 weeks, modified PBL was implemented with one instructor to facilitate PBL for four small groups with 19 pharmacy students simultaneously. Modified PBL was incorporated with weekly mini-case discussion and presentation. Results: Students completed 15-question survey to evaluate modified PBL course, student performance, group performance, and facilitator performance. Eighty-four percent of students answered modified PBL was helpful to understand what they have learned. Mean score in group performance was higher than that of individual performance during modified PBL course. Overall, students reported modified PBL was useful in knowledge building. Conclusion: Modified PBL model without individual group facilitators in one classroom helped students to achieve self-directed, independent learning skills in an interactive and engaging environment.