Description of Assignment: 1500 words
The assignment sets out to find a business situation/customer interaction that you would like to influence using the learning, principles, and concepts from Class 1,2 and 3 (cognitive psychology)
Fallacies of decision-making Perception, awareness, attention/focus
I have attached a sample of the assignment for your clear understanding and expected, please do not copy the same.
Objective of the assignment:
1. Find a business situation (workplace situation or customer interaction) that you would like to influence using the Decoy or Compromise Effect.
2. Explain what you expect to achieve and how you think the principles and or concepts will help you achieve your desired outcome.
3. Conduct the experiment (min 30 respondents per condition…more is preferred) and describe the outcome (you cannot survey Hult students).
4. Provide a financial analysis of your experiment.
5. Explain if your expectations were met or not. If not, provide an explanation of why not. What could have influenced the outcomes? How could you conduct it next time?
6. Finally, explain what you learned from it (reflection).
Grading Criteria (What constitutes a good assignment?):
1. The assignment will be judged based on the usage of the learnings (from class and the required reading) to a specific business situation.
2. Students will indicate in their assignment which outcomes they predict to achieve by applying the learning concepts.
3. The students are encouraged to conduct a mini-experiment (randomized control trial) to assess if their predictions are correct and to include the results into their assignment. Adding illustrations, pictures, recordings, etc (evidence of how you conducted your experiment) will positively influence your grade.
4. A reflection on the work done and the results must be provided to show what the student has learned from this assignment and the course in general.
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