MGM102H5 Lecture Notes - Lecture 4: Satisficing, Bounded Rationality
Document Summary
Gain a sense of status in society. Doing it for charitable organizations or a worthy cause. 2o"clock turnaround rule: was not obeyed in the mount everest climb because the climbers were almost there, wanted to finish the climb, did not see leaders obeying rules and did not do so themselves. Were not prepared: ran out of oxygen/supplies on the journey o. Differing motivations to climb(i. e. publicity, charity, etc) Put together teams in alphabetical order and based on name. No dissent at 2"o clock o o. Lack of communication; fisher knew he was running out of oxygen but refused to tell anyone there jeopardizing the team: no initiative taken to follow the rule. Overconfidence (e. g. booker"s oxygen; fisher didn"t take care of his body and went up and down the mountain multiple times; sentiments overrode judgement - paul took care of one client more than the other;
