Martin V. Smith

1

Martin V. Smith Decision Making • The acumen of Bud Smith was renowned. Facts, figures and projections for an empire that stretched over 200 properties and businesses were constantly swirling in his head primarily because technology had not evolved to today’s standards that are critical to decision-making. • Therefore, the MVS Center is an appropriate link to the future in his memory. 2

Purpose • Provides physical and virtual space to facilitate innovative case teaching and collaborative learning, as well as to conduct research in group decision making. • Supports integrative decision-making by utilizing the expertise of faculty members within the Martin V. Smith School of Business and Economics and CSU Channel Islands. 3

Purpose - Continued • This is the place for students, faculty, members of the local community, and businesses to study business cases, conduct research, and address complex business and social problems. • The Center can hold facilitated physical and virtual meetings such as strategic planning, focus group research, policy formulation, and other collaborative works. 4

21st Century Learning • • • • • • • •

Participant-centered learning Dialogues: online and offline Facilitated by conceptual and simulation models Multimedia and multi-dimension Focus on learning/discovering, not teaching/covering Collaborative learning: Learning from each other Cross-functional integration Context-based/situation-based learning 5

Groupthink Irving L. Janis

6

Cyert, March, and Simon’s Model of Decision-Making

7

Integrative Decision-Making Teamwork Group Problem Solving Techniques/ Tools

Cognitive Science

Modeling/ Simulation Tools Integrative DecisionMaking

Facilitation 8

Integration of Business Disciplines Strategy Ethics and Law

Economics

Operations Management

Business Decisions

Accounting/ Finance/ Investment

Organizational Behavior

Marketing

MIS / Information Technology 9

Facilitated Meetings Public displays served as group memory

Scribe

Roles

(Technographer)

Participants

Source: Adapted from http://www.grove.com/wkshp/wkshp.html

10

Team Performance Model Attention

Energy

Information

Information

Operations

11

Source: http://hp-strategies.com/images/tpm.jpg

Strategic Planning Model Culture Values

Mission Vision

Results

General Strategy

Strategic Alternatives 1. 2.

Organizational Profile

External Environment Objectives

2-YR

5-YR

…

Objectives Ranked Objectives

Responsible person

Source: Professor William P. Cordeiro

Needed Resources $$$ Time

12

Mindmapping

13

Systems Dynamics Simulation Model

14

Teamwork and GDSS Same Time

Different Time Project/team rooms Shared offices

Same Place Multi-media presentation systems Key-pad based voting tools Facilitated meetings using a PC

Networked PCs based GDSS

Different Place Screen sharing Audio/video conferencing

Web-based desktop conferencing

Instant messaging

E-mail Shared document database Group authoring tools

Discussion forum 15

Group Problem-Solving Process and TeamSpirit

Generic Problem Solving Process

TeamSpirit Meeting Management Tool Idea generation

Idea Organization

Alternative Evaluation

TeamSpirit Toolbox

Share information Discussion forum Structured brainstorming Brainstorming

Idea consolidation Rate alternative Rank alternatives Select alternatives Multi-criteria evaluation

16

Software Tools* Software Name

Description

Planner Lab

Decision Support System (DSS) tool

TeamSpirit

Group DSS tool for group problem solving

Compendium

Support IBIS method and Dialogue Mapping

FreeMind Dimdim 4 Analytica

mind mapping software Web conferencing tool DSS tool for academic use only

Visio

Structured diagramming tool for process, data, and object-oriented modeling Project management tool

MS Project

*Additional tools will be added to the MVS Center

17

Expertise • William P. Cordeiro, Ph.D., Professor of Management Interests: Strategic planning, Business case analysis • Minder Chen, Ph.D., Associate Professor of Management Info. Systems Interests: Group decision support, Virtual teams, Business process reengineering. • Priscilla Liang, Ph.D., Assistant Professor of Finance Interests: Financial and investment decision-making, Individual

decision-making behavior, Corporate finance strategies, Economic policies and crisis responses

18

Expertise • J. Andrew Morris, Ph.D., Associate Professor of Management Interests: The impact of emotional intelligence on group and individual decision-making, Socio-biological foundations for cooperative decision-making strategies in Prisoner's Dilemma

problems • Dennis D. Muraoka, Ph.D., Professor of Economics Interests: Natural resource and environmental economics, Zoos and aquariums • Claudio Paiva, Ph.D., Associate Professor of Economics Interests: Macroeconomic policy, Empirical studies of macroeconomic performance, International economics

19

Expertise • J. Goosby Smith, Ph.D., Associate Professor of Management Interests: Diversity education and management, Sports team leadership, Ethical decision-making • Paul Rivera, Ph.D., Associate Professor of Economics Interests: Labor migration, Rural and household economics, Political economy, International economics • Sung Won Sohn, Ph.D., Martin V. Smith Endowed Professor of Economics

Interests: Economic forecasting and policy • Ashish Vaidya, Ph.D., Professor of Economics Interests: Strategic Planning, Global Business Strategy, Leadership 20

21