Judgement and decision making Essay Example | Topics and Well Written Essays - 500 words

Judgement and decision making - Essay Example This tool is also essential, non-egocentric social propriety; thus, Madoff should use this tool to win investors’ trust on their $50 billion. Notably, Bernie Madoff might have capitalized on this tool to influence that belief and trust of investors that he could manage the $50 billion economically and profitably (Kramer, 1998). On this note, Madoff should use the Cialdini’s principle that includes the mode of dress, education, physical characteristics (age, posture), and level of education and experience in handling the entire investment persuasions. Additionally, Madoff could have removed the self-interest from the investment (Connolly, Hammond, and Arkes, 1999). The principle of removal of self-interest from the persuasion often increases the perception of other interested parties in the discussion. However, there are chances that Madoff can fail to convince the investors to entrust him with $50 billion. This might happen if he lacks the expertise or rather the miss-entitlement to allocate incentives. Notably, the decision can only be taken in the self-interest of Madoff but not that of the business (Connolly, Hammond, and Arkes, 1999). In such a case, some of the investors may suspect his own judgment in the persuasion deal and fail to follow his authority’s instructions. Therefore, if Madoff remain faithful and persuades the investors at the interest of the business, there are high chances that the investors may entrust him with their $50 billion worth of investment. In addition, Madoff should apply the liking or the affect as a persuasion mechanism to note that the things that make people feel valued are things that are equally beneficial to those people. The approach also has a strong motivating power, love, anger, pride, and attraction among others. Well articulation of this principle shall overwhelm reason that eventually become extraordinarily difficult to change