03 Feb 1.5) Explain how and why

Project One: Bias in Decision Making Due Week 3 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 NOTE: All submitted work is to be your original work. You may not use any work from another student, the Internet or an online clearinghouse. You are expected to understand the Academic Dishonesty and Plagiarism Policy, and know that it is your responsibility to learn about instructor and general academic expectations with regard to proper citation of sources as specified in the APA Publication Manual, 6th Ed. (Students are held accountable for in-text citations and an associated reference list only). Instructions: Step 1: Research You will read the following article that depict some of the worst business decisions in the last century. Once you read the article, using the two decisions related to George Lucas and The Beatles, thoroughly research each decision. To thoroughly research the decisions, you will closely and carefully review as many sources as possible to discover the facts of the decision making process. One to three sources probably will not lead to gaining a thorough understanding of the bad decision. Seemed Like a Good Idea at The Time. https://www.forbes.com/sites/erikaandersen/2013/10/04/it-seemed-like-a-good-idea-at-the-time-7-of-the-worst-business-decisions-ever-made/#524590d73e80 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. 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 Now it is time to use the research to answer the following requirements: • Using the two bad decisions, briefly discuss the decisions (one paragraph); • In detail, explain why and how the bad decision was made; • Identify all of the biases from the list of biases that led to the bad decision (Recency, Status Quo, Conservatism, Emotional, and Overconfidence); • Define each of the identified biases; • Explain how and why the bias(es) impacted the decision. Explain your reasoning for the selection and explain what led to the conclusion that these particular bias were at play?; • What was the outcome of the bad decision? What was the impact on the stakeholders?; • 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. For instance, if you choose Ross Perot’s pass on Microsoft be sure to use a quote from Perot himself about the choice that supports the identification of the bias. To learn about primary sources versus secondary sources, read https://library.ithaca.edu/sp/subjects/primary. Step 4: Write a summary paragraph Step 5: Submit the paper in the Assignment Folder (The assignment submitted to the Assignment Folder will be considered the team’s final product and therefore ready for grading by the instructor. It is incumbent upon the student to verify the assignment is the correct submission. No exceptions will be considered by the instructor). =========================== Preparation for Writing the Memo • 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. • Paraphrase and do not use direct quotation marks except for the direct quotes needed for the primary source material. This means you do not use more than four consecutive words from a source document, but put a passage from a source document into your own words and attribute the passage to the source document. Provide the page or paragraph number. Note that a reference within a reference list cannot exist without an associated in-text citation and vice versa. • Other than the eBook for the course, you may not use any other books 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. APA and writing is a main focus of this paper and should be executed with 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. Be sure to cover all that is asked of you in the assignment 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. riteria Excellent Decision Selection Select 2 bad decisions and explain how each significantly impacted the person or business negatively. 1.25 points Selection of the decisions with brief description of decisions were logically concluded using ideas and reasoning (justification), thoroughly supported using the course material and case study facts, and showed insightful understanding of of the decision and how the decision significantly impacted the business or person negatively. (1.125 – 1.25) In detail, explain why and how the bad decision was made 5 points Explanation of why and how the bad decision was made was logically concluded using ideas and reasoning (justification), thoroughly supported using the course material and case study facts, and showed insightful understanding of of the decision. (4.5 – 5.0) Identify all of the biases that led to the bad decision 2.5 points Bias identification was logically concluded using ideas and reasoning (justification) that were thoroughly supported by course material and case study facts, and discussion of how biases led to bad decision showed insightful understanding. (2.25 – 2.50) Correctly defined all of the biases that led to the bad decision 1.25 points All biases were correctly defined and was logically concluded using ideas and reasoning (justification) that were thoroughly supported by course material and case study facts. (1.125 – 1.5) Explain how and why the bias(es) impacted the decision. Explain reasoning for the selection and explain what led to the conclusion that these particular bias were at play? 5 points Explanation of how and why the biases impacted the decision and reasoning for the selection of bias and what led to the conclusion of biases was thoroughly discussed and supported by course material. (4.5 – 5.0) What was the outcome of the bad decision? What was the impact on the stakeholders? 2.5 points Outcome of the bad decisions and the impact on the stakeholders were logically concluded using ideas and reasoning (justification) that were thoroughly supported by course material and case study facts, and discussion of how biases led to bad decision showed insightful understanding. (2.25 – 2.5) Uses a wide array of course material and secondary sources from research 1.75 points Uses a wide array of course material and secondary source material from research throughout the paper and uses at least three primary sources for each decision demonstrating appropriate application to the topic under discussion. (1.575 – 1.75) Attention to Instructions 2.3 points The paper contains all major assignment tasks. The paper also includes completion of all minor aspects of the assignment such as table creation if required, third person writing, required use of course material, outside sources if needed, inclusion of page and paragraph number, no use of books, assignment format and avoidance of using direct quotes. (2.025 – 2.25) Writing Mechanics 2.3 points Strictly adheres to standard usage rules of written English using paragraphs and sentence rather than bullets, including but not limited to capitalization, punctuation, run-on sentences, missing or extra words, stylistic errors, spelling and grammatical errors. No contractions or jargon used. Zero to two errors noted. (2.025 – 2.25)

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