Management and Organizational Studies 2181A/B Chapter Notes - Chapter 11: Protecting Group, Satisficing, Ideo

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2181A/B
• Professor: Stelian Medianu

Document Summary

Decision making- developing commitment to some course of action, can be a process of problem solving (problem exists when a gap is perceived between some existing state and some desired state) Existing state is clear, desired state is clear, how to get from one to the other is fairly obvious. Attempt to program decision making for well-structured problems- ex. Extreme example when existing and desired states are unclear, method of getting from one to the other is unknown. Unique, involve high degree of uncertainty, arouse controversy. The complete decision maker- a rational decision-making model. Perfect rationality- familiar economic person who is perfect, cool, calculating decision maker, completely informed, logical, one criterion is economic gain. Bounded rationality- limited in capacity to acquire and process information, time and political constraints. Framing, cognitive biases, emotions, and mood illustrate bounded reality. Framing- presentation of information about a problem that are assumed.