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Business & Marketing
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English (U.S.)
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Topic:

Simulation Reflection: Good and Bad Decisions and the Confirmation Bias

Essay Instructions:

Review the decisions you made in the simulation.

Recognize different decison making biases.

1. How would you evaluate the decisons you made in the simulation? Which are good and which are bad decisions, and why? (~100-150 words)

2. Identify TWO cognitive biases that exist in the simulation (e.g. framing bias; anchoring bias; sunk cost bias; availability bias, confirmation bias, etc.); define what they are, and how have they affected your decision making in this simulation. (~300-450 words)


I've almost finished the simulation in the link I provided, please complete the last part of simulation, thank you!

Essay Sample Content Preview:

Simulation Reflection
Author’s Name
Institutional Affiliation
Course Code and Name
Professor’s Name
Date
Simulation Reflection
Press Release
Matterhorn Health cares for its consumers, which is why we remain transparent. Whenever mistakes happen, the organization does not shy away from informing all relevant stakeholders. In that light, it has come to our attention that some consumers are experiencing inaccurate readings due to misusing the device. That is why Matterhorn Health has put $430,000 aside to facilitate repackaging. The consumer guidelines on the new packaging will be simple. In addition, it will incorporate several language translations to make it easy for users to comprehend. Other complaints that have been received and will be addressed include the syncing problems, where customers using smartphones say that the readings might even take a month to be updated. Notably, Matterhorn Health is working closely with the engineering expert to solve the syncing issues and enhance data transfer. Since our consumers are the priority, we take full responsibility for the inconvenience and reassure our clients that everything is under control. Those with faulty GlucoGauge are advised to return these devices and receive the newer versions without any charges. Besides, Matterhorn Health understands that health and safety should always come first, which is why its primary objective is to provide quality products.
Answer 1
The decisions I made in the simulation were meant to address the existing problems affecting Matterhorn Health. The only way to know whether these decisions are good or bad will be based on their outcomes. The good decisions include working with the senior vice president (SVP) of marketing, Nick Bay, to solve the issue of inaccurate readings caused by consumers misusing GlucoGauge. Others are repackaging the device, updating the guidelines, and addressing the long wait time when syncing readin...
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