Case Study – Ruby Princess Ship and Covid19
1. What decision-making models or approaches were used by the company when managing this crisis? In answering this question, refer to 1 (one) decision-making model which could have been followed.
In recent months, the life of the whole world changed abruptly due to the Covid-19 crisis. Covid-19 has affected a million families and adverse effects on the economy. Due to its negative impacts, every company is finding a solution to the crises. The Rubbly Princess ship company used the implicit favorite model to manage the Covid-19 crisis (Todd, 2011). This is because the model provides the Rubby princess decision-maker to evaluate all solutions provided for covid-19 against the given Covid-19 best decisions. Some of the given solutions decision-makers find them to be less favorable, making him or her choose the implicit favorite solution for the covid-19 crises. The importance of using this implicit favorite decision-making model include that it provides Rubby decision-maker with supplementary information which is essential during the whole process. Also, it has a lot of produced varieties that are used to produce a wide variety of information from where the right decisions are derived from the data (Todd, 2011). Also, the model attracts the unconditional agreement, which is attractive due to the easy procedure that is followed.
2. Identify a minimum of 2 (two) decision-making biases or errors that might have influenced the decisions. What could have been the impact of these biases or errors?
As the Rubby Company developed the implicit decision-making model to fight Covid-19, the model has some bias and errors which may affect the final decision. One of the biases is overconfidence. Overconfidence may make the decision-maker to overrate the skills he or she uses during decision making (Stillman, 2020). Overrating the skills uses may make him or her to be careless and the lack keenness over the matter. This is because overconfidence is an art which impairs the decision making a consultation…..Continue Reading…..
3. Make a minimum of 2 (two) recommendations regarding the strategies that could be put in place, in the future, to avoid your identified decision-making biases or errors.