Business Administration 2295F/G Lecture Notes - Lecture 9: Bounded Rationality, Absenteeism, Confirmation Bias

• School: Western University
• Department: Business Administration
• Course: Business Administration 2295F/G
• Professor: Meaghan Ross

Document Summary

The process of developing a commitment to some course of action. Some course of action choice among several alternatives. Decision making is also a process of problem-solving. Problem perceived gap between an existing and desired. How to get from one state to the other is clear. Use rules, standard operating procedures, rules of thumb. How to get from one state to the other is unclear. Identify problem search for relevant information develop alternative solutions to the problem. Evaluate alternative solutions choose best solution implement chosen solution monitor and evaluate chosen solution. The absenteeism rate in the organization continues to increase. Develop alternative solutions to the problem evaluate alternative solutions choose. Decide between creating a clearer attendance policy vs. offering flu shots to employees vs. providing praise for attending work. Send a memo to employees that the attendance policy has changed + provide presentations about the new policy.