GMS 200 Study Guide - Final Guide: Bounded Rationality, Satisficing, Psychological Safety

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Ado Abdoulkadre

Document Summary

Lecture review: management process: planning, organizing, leading, controlling. Productivity and dimensions of organizational performance: effective vs efficient. Organizational environment: dimensions of uncertainty: rate of change in environment vs. complexity of environment. Three environments for managerial decision making and problem solving: certain, risk, uncertain (with respect to risk of failure and type of decision) Steps in managerial decision making and problem solving: find/define problem e(cid:448)aluate alter(cid:374)ati(cid:448)e solutio(cid:374)s (cid:373)ake de(cid:272)isio(cid:374) i(cid:373)ple(cid:373)e(cid:374)t e(cid:448)aluate results. Differences in classical and behavioural models of decision making: classical- rationality, optimizing decision, behavioural- bounded rationality, satisficing decision. Common forms of global business- market entry and direct investment strategies: market entry- global sourcing, exporting and importing, licensing and franchising, direct investment- joint ventures, foreign subsidiaries. Culture and global diversity (hofstede: power distance, uncertainty avoidance, individualism-collectivism, masculinity-femininity, time orientation, indulgence. Topic 4: management learning (past and present)/ planning processes and techniques. Classical approach to management: scientific (frederick taylor), administrative principles (henri fayol), bureaucratic organization (max.