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Purpose:

The purpose of this assignment is for you to demonstrate an understanding of how bias affects the way people make decisions. The project is specific to business and illuminates the seriousness of the effect that bias can have on a business decision.

In this project, you will demonstrate research and writing skills, the ability to identify and use primary and secondary source material, use critical thinking skills in the application of bias to the decision and use APA to support ideas, reasoning, and conclusions presented in the project.

Outcomes:

Identify various bias types
Explain how bias effects decision making
Develop research skills in the identification and retrieval of relevant information in the completion of the assignment
Develop critical thinking and communication skills

Instructions:

Step 1: Research

One of the poorest decisions made in business history was the launch of New Coke by Coca Cola. One of the poorest personal decisions was Lance Armstrong’s decision to cheat with performance enhancing drugs. Carefully research each decision. Be sure to collect information as how, why and what decision was made. Make sure to learn all the parties involved in the decision and the bias the affected the decision.

Once you have gathered the research, follow the steps below:

Step 2: Write an Introduction

Create the introductory paragraph. The introductory paragraph is the first paragraph of the paper and tells a reader the main points covered in the paper. It should seek to grab their attention and provide background into why the thesis is being discussed. To help you know how to write an introduction, view this website to learn how to write an introductory paragraph: http://www.writing.ucsb.edu/faculty/donelan/intro.html

Step 3: The Decision and Associated Biases

A)To provide ease of reading, discuss one decision under one heading and then discuss the second decision under another heading;

B) In a paragraph for each decision, identify the decision made, summarize the factors that led to how and why the decision was made. Make sure to capture the main points related to the decision explaining in detail why and how each bad decision was made. Provide support using the course material and research for the reasoning and conclusions made;

Using the research material, identify and discuss the parties to the decision, the bias they displayed and use facts to show how their bias influenced the decision made. Do this by addressing these points in your answer.

C) Define each of the identified biases. In identifying the biases, choose only from the list below. Note that every bias in the list might not be applicable to either bad decision; Recency bias; Rationalization; Status quo bias; Confirmation bias; Anchoring Bias; Overconfidence bias; Availability Heuristic bias; Emotional bias; Stereotyping bias, bandwagon, selective perception, choice supportive bias;

D) Explain how the identified bias(es) influenced the decisions using the facts collected in the research;

E) Explain the reasoning for the selection of the biases and what led to the conclusion that these particular biases were at play;

F) Discuss the outcome of each bad decision. Identify the stakeholders. Discuss the impact the decision had on the stakeholders and;

G) In addition to using a wide array of the course material and secondary sources from your research, use at least one primary source for each decision that the research revealed. Primary sources could include an interview with the decision maker, historical or legal documents, eyewitness accounts, statistical data, audio or video recordings, or speeches. To learn about primary sources versus secondary sources, read https://library.ithaca.edu/sp/subjects/primary.

Step 4: Write a summary paragraph

Write a summary paragraph the recounts the point made in the paper and brings the reader back to how the points supported the thesis presented in the introduction.

Step 5: Submit the paper in the Assignment Folder

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Preparation for Writing the Paper

Read the grading rubric for the project. Use the grading rubric while completing the project to ensure all requirements are met that will lead to the highest possible grade.

Third person writing is required. Third person means that there are no words such as “I, me, my, we, or us” (first person writing), nor is there use of “you or your” (second person writing). If uncertain how to write in the third person, view this link: http://www.quickanddirtytips.com/education/grammar/first-second-and-third-person.

Contractions are not used in business writing, so do not use them.

Use direct quotation marks when using primary source material. Otherwise, paraphrase and do not use direct quotation marks. What this means is that you are to put a passage from a source document into your own words and attribute the passage to the source document using an in-text citation and an associated reference that will appear in the reference list. You may not use more than four consecutive words from a source document when paraphrasing.

All in-text citations must show the page or paragraph number of the source material.

You may not use any books other than what may appear in the course readings as source material.

How to Set Up the Paper

Create a Word or Rich Text Format (RTF) document that is double-spaced, 12-point font. The final product will be between 3-5 pages in length excluding the title page and reference page. Write clearly and concisely.

The body of the paper should consist of a heading for each of the decisions chosen.

This project requires a focus on APA so execution has to have the utmost attention to detail. In this regard, note that the project calls for at least one primary source. Be sure to include this as part of your supporting material choices. Should you need help in any these areas of APA or writing, please ask the professor for guidance.

Use the grading rubric and instructions as guides when writing the project. Be sure to cover all assignment requirements and do so in a way that will guide the professor into giving a high grade. Finally, all work that you submit for this project should be your own. Remember your pledge to uphold academic integrity in all work that you prepare and submit.

Class Material can use other resources

BIAS:

Cognitive Bias Cheat Sheet

EMOTIONAL BIAS

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