LUBS5253 – Advanced Management Decision Making

University of Leeds | Leeds University Business School

🎯 Course Overview

This course explores risk perception and communication in managerial decision-making contexts. Students will examine how individuals and societies perceive risks, the psychological and social factors influencing these perceptions, and strategies for effective risk communication. Topics include psychometric approaches, cultural theory, social amplification of risk, and mental models. The course integrates theoretical frameworks with practical applications, such as crisis management and public health communication.

📅 Weekly Lecture Themes

• Week 1: Introduction to Risk Perception and Communication
• Week 2: Definitions and Subjectivity of Risk
• Week 3: Expert vs. Lay Perspectives on Risk
• Week 4: Psychometric Paradigm and “Fright Factors”
• Week 5: Cultural Theory of Risk
• Week 6: Social Amplification of Risk Framework (SARF)
• Week 7: Trust in Risk Communication
• Week 8: Mental Models Approach
• Week 9: Case Studies in Risk Communication (e.g., Fukushima Nuclear Disaster)
• Week 10: Strategies for Effective Risk Communication

📚 Key Readings

• Slovic, P. (2000). The Perception of Risk. Earthscan.
• Pidgeon, N., Kasperson, R. E., & Slovic, P. (2003). The Social Amplification of Risk. Cambridge University Press.
• Morgan, M. G., Fischhoff, B., Bostrom, A., & Atman, C. J. (2002). Risk Communication: A Mental Models Approach. Cambridge University Press.
• Fischhoff, B. (1995). Risk perception and communication unplugged: Twenty years of process. Risk Analysis, 15, 137-145.
• Kasperson, R. E., et al. (2003). The social amplification of risk: Assessing fifteen years of research and theory. In The Social Amplification of Risk (pp. 13-46).
• Bennett, P. (1998). Communicating about Risks to Public Health: Pointers to Good Practice. Department of Health.
• Van Schaik, P., et al. (2017). Risk perceptions of cyber-security and precautionary behaviour. Computers in Human Behavior, 75, 547-559.

📝 Assessment

The course assessment consists of a 3,500-word assignment addressing one of six profiles, focusing on topics such as group decision-making, negotiation, risk communication, or structured decision aids. Key assessment criteria include:

• Critical analysis of theoretical concepts (e.g., psychometric approach, cultural theory).
• Application of frameworks (e.g., SARF, mental models) to real-world scenarios.
• Evaluation of risk communication strategies and their effectiveness.
• Recommendations for improving decision-making or communication practices.

Students are encouraged to draw on case studies (e.g., Fukushima, cyber-security risks) and seminar discussions to support their arguments.

🔍 Assignment Preparation Guide

Key Concepts to Master

• Psychometric Paradigm: Understand “dread” and “unknown” factors in risk perception.
• Cultural Theory: Hierarchist, egalitarian, and individualist worldviews and their impact on risk perception.
• Social Amplification of Risk: Media triggers and mechanisms of amplification/attenuation.
• Mental Models Approach: Steps for developing effective risk communications.
• Trust in Risk Communication: Facets of trust (competence, fairness, consistency) and strategies for building/maintaining trust.

Assignment Structure

For high marks, follow this structure:

1. Introduction: Define the problem, objectives, and structure.
2. Literature Review: Discuss relevant theories and frameworks.
3. Analysis: Apply theories to a case study or workplace scenario.
4. Recommendations: Propose improvements based on theoretical insights.
5. Conclusion: Summarize key findings and implications.

📝 Case Study Questions