GMS 200 Study Guide - Final Guide: Availability Heuristic, Representativeness Heuristic, Decision-Making

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

Document Summary

Mission : organize the worlds info and make it universally accessible and useful. Better and more timely access to useful info. More ongoing and informed communication among all parts of the organization. Alternative courses of action and their outcomes are know to choice maker. Decisions makes views alternatives and their outcomes in terms of profanities. Decisions maker doesn"t know all alternatives and outcomes even as probabilities. Availability heuristic : overestimate the likelihood of success. Information includes being timely, high quality, complete, relevant, understandable. Systematic thinking- approaches problems in a rational and analytical fashion. Intuitive thinking approaches problems in a flexible and spontaneous fashion. Multidimensional thinking- is an ablity to address many problems at once. A programmed decision applies a solution from past experience toa routine problem. A non-programmed decision applies a specific solution crafted for unique problem. A certain environment gives all info and possible actions to take. Availability heuristic bases a decision on recent info or events.