MGT 3200 Midterm: Exam 2 Objectives- Study Guide
Document Summary
Exam two objectives (from the notes & outside reading) Make you more efficient its programmed: not programmed, made for unique or complex situation, bring together problem solve skills. Something new or different: do managers make more programmed or non-programmed decisions, in general, most things are programed for most managers, non programmed increases as you go up the pyramid towards ceo"s. Something new or unique: what is decision-making under conditions of certainty, zero ambiguity, and zero unknowns. The easiest: what is decision-making under conditions of risk, known alternatives, but outcomes are in doubt, you have odds. Even when you play the odds, you don"t always win. The probability is the odds: risk is most common. Most difficult: most common- risk, least common- certainty, most difficult- uncertainty. What three things bound one"s rationality: when you get emotional. Your rationality goes out the window: the un-foreseeability of future events.
