Bounded Awareness Decision Maker

Question: Discuss about the Bounded Awareness Decision Maker. Answer: Introduction: Bounded Awareness is defined as the biased attitude of the decision-maker to favor a specific outcome, while implementing a decision. In case the decision maker is suffering from the problem of Bounded Awareness, he might be unable to look beyond the problem, and consider as well as understand the alternative solutions available (Grant Quiggin, 2014). It has been observed that people suffering from the problem of Bounded Awareness, are often biased while taking a decision, as the decisions undertaken by them are usually guided by their experience of the past. Consequently, the decision-maker develops a tendency to focus on the unimportant and less significant issues, which ultimately leads to the failure of the decisions being undertaken. The people suffering from Bounded Awareness are inclined to focus on the known issues, rather than the less-known issues (Bazerman Sazer, 2016). The thing which seems to have worked incredibly well in the presentation is that it illustrates the phenomenon of bounded awareness in a very elaborate fashion. The presentation was highly educational as it helped me learn about a chief hurdle a decision-maker can encounter, while solving a problem. Owing to the presentation, I realized that we often tend to overlook important information that is vital for solving a specific problem. Hence, I have learned that it is important that we pay heed to each minute detail, so as to solve a problem in an effective way. However, the presentation might have offered a critical analysis of the problem of bounded awareness, by referring to other related theories of decision-making process. The presentation could have been improved by incorporating a few videos that could explain the situation of an individual suffering from the problem of bounded awareness in a real-life situation. This could improve upon our understanding of the phenomenon in a better way. The presentation was highly persuasive as it illustrated the phenomenon of Bounded Awareness in a very effective way. The use of examples helped to substantiate the central concept in a proper way, that enabled my comprehensibility of the subject. The presentation has indeed convinced me through the two examples, that my intentional blindness can easily affect my cognitive perception, and that in turn may result in the failure of the decision being undertaken. Yes, the feedback was indeed very positive and encouraging. The very fact that bounded awareness can lead people to overlook easily accessible information while taking a decision was itself a source of surprise for the students. The enthusiasm of the participants was being maintained throughout the presentation as each new slide presented them with new ideas as to how bounded awareness can intervene with the decision-making capacity of an individual. The students could relate to the phenomenon, and claimed that they could enjoy the presentation as they could now understand the phenomenon that had happened to them in the past. The interesting topic captured their attention, while the educational content had also helped to expand the horizon of their knowledge. Owing to the presentation I not only became aware of the phenomenon of Bounded Awareness, but also understood the ways of dealing with the problem. Besides, my interpersonal communication skill also improved while communicating the ideas of the presentation to the class. The presentation not only helped me engage with any unfamiliar topic in an active way, but it also helped me improve my research and communication skills as well. Reference List: Bazerman, M. H., Sezer, O. (2016). Bounded awareness: Implications for ethical decision making.Organizational Behavior and Human Decision Processes,136, 95-105. Grant, S., Quiggin, J. (2013). Bounded awareness, heuristics and the Precautionary Principle.Journal of Economic Behavior Organization,93, 17-31.