GMS 200 Lecture Notes - Lecture 2: Satisficing, New York Stock Exchange, Bounded Rationality

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

Document Summary

Gms200 - lecture notes lecture 2 chapter 13 (part 1) You need to take action and you need information to do that - when you take an action, there will be an outcome. High quality - if something was high quality, you can talk about it with confidence. Making sense of business decisions - eg (general motors) Gm realizes its becoming difficult to sell cars so they"re partnering up with people to let people borrow cars. 1960s: gm"s average market share in the us truck & car market was approx. American cars were selling and japan tried to enter the market but they taxed imports so it made it seem like japanese cars were more expensive than they actually were so they wouldn"t sell. Japanese people came to america physically and made a car plant near the west coast where there were a lot of asians. So they did and then they threw it out, but still made cheaper cars.