Managerial problem solving and decision making. Task 2: Problem solving and decision making essay(2400) words.  Referencing style APA throughout the document  Use 12 font size  Double spacing Choose essay topic from one of the following 4 topics: 1. In Europe in 1611 importers of nutmeg and pepper used Galileo’s invention of the telescope to be the first to identify ships returning from the Spice Islands and fix market prices. Humans have continued to rely on developments in technology to improve their problem solving and decision making. What challenges may confront managers and organisations from the rise of machine intelligence?, crowd sourcing? or from biological problem solving models? 2. How might cultural differences in today’s diverse and/or globalised organisations impact on managerial problem solving and decision making? 3. A recent McKinsey study of more than 1,000 business investments, showed that when companies worked to reduce the effects of bias, they raised their returns on investment by seven percentage points. “Executives need to realize that the judgment of even highly experienced, superbly competent managers can be fallible.” (Kahneman, 2011) How might managerial problem solving and decision making be less fallible through the acknowledgement and understanding of heuristics? 4. Is a disciplined decision-making process, not individual genius, the key to effective and sustainable problem solving and decision making?. In research and writing this essay students must refer to at least 12 but not more than 20 academic sources to provide a detail explanation which include: • Textbooks and academic articles. And the textbook to used is. o Bazerman, M.H. & Moore, D.A. (2013). Judgment in Managerial Decision Making, 8th edition. USA, John Wiley & Sons. ISBN 978-1-118-06570-9 At least 5 independently sourced scholarly, peer reviewed articles as below: • • Atuahene‐Gima, K., & Wei, Y. (2011). The Vital Role of Problem‐Solving Competence in New Product Success. Journal of Product Innovation Management, 28(1), 81-98. • de Mast, J., & Lokkerbol, J. (2012). An analysis of the Six Sigma DMAIC method from the perspective of problem solving. International Journal of Production Economics, 139(2), 604-614. • Kim, J.-N. & Grunig, J.E. (2011), Problem Solving and Communicative Action: A Situational Theory of Problem Solving. Journal of Communication, 61(1), 120–149. • Sye, G.L. (2005). It’s still not a problem: Systematic problem solving for business. Soarent Pty Ltd, Queensland. • Wood, R., Cogin, J. & Beckman, J. (2009). Managerial problem solving: Frameworks, tools, techniques. McGraw-Hill, Australia. Details Task: For many managers, the current business environment is turbulent and complex. It is no longer safe to assume that an organisation that was highly successful yesterday will continue to be so tomorrow. Nor it is safe to assume that ‘business as usual’ will prevail, or yesterday’s models of problem solving and decision making will deliver the outcomes that people or organisations desire. Today’s disruptive business environment urges managers and staff to innovate, cultivate divergent or “outside box” thinking and no longer rely on problem-solving and decision making models based on convergent thinking. But perhaps both convergent and divergent thinking have a role, so how might managers adjust their own problem solving and decision making practices to deal with current challenges?