Plan formulation concerns how decision-makers arrive at the means to achieve their objectives, and it involves setting out various plans or courses of action that are constrained by an individual’s perception of the perceived risk. This chapter focuses on how options are evaluated and what determines “desirability.” The centrality of values and goals, at both the individual and the organizational level, and how the goals that people set can guide their judgments under uncertainty are examined. In addition, the chapter highlights how the nature of the situation affects the process through which options are generated and compared. Finally, chapter discusses inertia traps that individuals can fall into when they fail to decide between equally adverse choices.
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