Judgment and decision making at work

The Practice Based Analysis Judgment and decision making is an essential component of management and life since it determines our capacity to make the right choice that would influence the quality of our performance in a given task (Bazerman, & Moore, 2008, 5). Nonetheless, the society presents difficult situations in life and at the workplace which requires the application of availability heuristics as an instrument for quick decisions such as determining how to respond to clients’ challenges in real time based on individual estimates taking cognizance of the existing biases in the model (Anderson, Sweeney, Williams, Camm, & Cochran, 2018, 12). My work as a Librarian calls for the development of the skills that enhance my understanding of behavioral science such as cognitive psychology to resolve complaints and respond to readers expectations.

The decisions are often expected to be undertaken under challenging circumstances with little information at hand on an issue, but the consequences might negatively impact the operations of the library. An efficient decision-making criterion relies on the capacity to take on an availability heuristic approach to develop judgments that aid the determination of alternatives to guide how the management of the library is undertaken. Decision making in the library, for instance, requires an assessment of the available books, equipment and other facilities to serve the people for enhancing learning initiatives and research. The setup and arrangement of the library is equally a decision that requires some forward thinking to establish a unique design which makes the learning environment convenient to scholars needs.

Problem related to decision making at work The problems in the workplace involved the challenge of maintaining a favorable mix of ancient and contemporary material to ensure preservation of history and fitness to modern developments. The library management system is traditional in issuing books and maintain track of their inventory. Notwithstanding the budget constraints and limited timeliness, pressure from consumer expectations pose a substantive risk to the efficiency of the library thereby defining an outstanding problem in need for quick decisions (Atrill, & McLaney, 2009, 43). The quality of judgment would be improved through applying bounded rationality to effectively approach the market needs in asserting operational efficiency of the library (Bazerman, & Moore, 2008, 25). The inability of establishing bounded rationality in understanding consumers' expectations and conduct would influence the probability of judgments coupled with biases for decision making due to existing deceptive information (Hmieleski, Carr, & Baron, 2015, 295).

The analysis on the investment decisions to develop the library management information system focuses on relevant costs for the project together with an initiative to establish modernity on one end and complement with the reading heritage. The Appendix develops an investment appraisal model that looks into different types of costs incurred as either sunk or committed to identify the management information system feasible capacity. The analysis of different costs such as committed sunken and operational offer guidance towards establishing a cost-benefit analysis to assess the ability of the organization and expected returns from the investment (Blumenthal-Barby, & Krieger, 2015, 543)1. Normative solutions offer incredible input when it comes to initiating a model to use qualitative theories to guide decision making. Nonetheless, qualitative approaches fail to work when it comes to capturing the human decision-making behaviour especially regarding the capacity to identify whether decisions are inspired by an irrational or rational line of thought.

The workplace challenges in the library decision when it comes to developing a management information system require the employment of expected value theory. The Appendix helps demonstrate whether the investment would have yielded value for the library. It is imperative to underscore that a decision to develop a management information system relates to an undertaking that is capital intensive. The development of changes to the library requires taking cognizance of the need to put in place a methodology that would improve the judgment and decision to enhance the efficiency of operations. The quality of the decision to automate the library operations requires the application of measures that would come in handy towards developing the effectiveness of the library to serve scholars in their best interest.

The judgments and decisions concerning the library operations take different models depending on the situations that occur in several instances. The task of library administration has made it essential to develop special decision-making skills relying on the ability to make quick judgments towards responding to challenges in need of timely action. The decision making expertise makes it possible to assess several human behaviours in an attempt to strategically approach issues involving the necessity of taking on organizational challenges. The various evaluations defined the need to look into human behaviour from a limited rationality capacity to shield the biases elicited by a divided line of thought to recognize human behaviour as either rational or irrational. The decisions taken on an administration position recognize the challenges of scarcity and uncertainty for purposes of enhancing the decision maker value by choosing a particular alternative.

Rationality plays an instrumental role in designing a decision criterion to predict the possible consequence of a specific option from several available options. The application of rationality defines the measures required to be employed when it comes to an understanding of how best to judge a given situation. It is essential to take on a critical analysis of the different alternatives that would form the basis for asserting some form of judgment and decisions. J. , Williams, T. A. , Camm, J. D. , & Moore, D. A. Judgment in managerial decision making. Blumenthal-Barby, J. S. Heuristics and biases: Beyond Tversky and Kahneman’s (1974) judgment under uncertainty.  Cognitive psychology: Revisiting classical studies, 146-161. Hmieleski, K. M. , Carr, J. Renn, O.  Risk governance: coping with uncertainty in a complex world.

Routledge. Soriano, D. R. , & Schreier, J. An expectancy-value model of emotion regulation: Implications for motivation, emotional experience, and decision making.  Emotion, 15(1), 90. Thomson, K. S. Should I invest in the management information system of the library or not to attain substantive value? The following are the costs to be incurred: Projected Increase in Revenue € 150,000 Underlying project expenses: € 45,000 Professional Fees: € 28,000 Librarian Remuneration: € 25,000 Automation Infrastructure Costs: € 45,000 Marketing of the changes done: € 35,000 Travelling costs: € 15,000 Notes: 1. Sales Revenue – if the library automation is vacated, it is projected that 60% of this value will be attained without the need to advertise the implementation of the automated system. The Professional fees involve signing of contracts with different consultants’ on various disciplines. The payments are thereby committed to the project hence not discretionary.

The Librarian’s remuneration is charged to each project undertaken as an underlying expense hence abandoning the project would equally lead to allocation of another project that would require remuneration. Librarian’s Remuneration – The Librarian is additionally paid to work on many projects and salary is apportioned to each project worked on, this may be seen as an accounting adjustment (if he stops working on this project, the proportion of the remuneration cost allocated to the automation project will be transferred to another project). The remuneration represents notional cost. Printed Publications- A sum of € 7,000 is committed to printed publications underway to promote the automation. The printing has been commenced and payments are due irrespective of the decision to take on the automation.