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Enhancing Students’ Decision-Making Skills Through Class Exercises: A Bounded-Rationality Model Application
Ying Schwarte, Christine Newman, Ping He, and Shelley A. Davis
Sorrell College of Business, Troy University, USA
Volume 15: 2022, pp. 169-194; ABSTRACT
Decision-making skills are critical managerial skills yet remain pedagogically challenging. Within a bounded rationality decision-making model framework, we design a ready-to-use class activity integrating content from multiple courses, such as Organizational Behavior, Human Resource Management, and Strategic Management. The activity creates a “hands-on” and “mind-on” opportunity for students to apply the previously learned knowledge to solve a real-world organizational issue — selecting a new CEO. We examined the effectiveness of the activity by testing several teaching outcomes using a sample of 44 undergraduate students. Our results suggest the activity is beneficial to students in practicing managerial decision-making and in increasing their self-efficacy for HR ideas, self-efficacy for teamwork, teamwork preference, and interest in Human Resource Management topics and practice.