Management and Organizational Studies 2181A/B Final: Final Exam Textbook Notes

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

Document Summary

Decision making: the process of developing a commitment to some course of action. Problem: a perceived gap between an existing state and a desired state. Well-structured problem: a problem for which the existing state is clear, the desired state is clear, and how to get from one state to the other is fairly clear. Program: a standardized way of solving a problem. Ill-structured problem: a problem for which the existing and desired states are unclear, and the method of getting to the desired state is unknown. The compleat decision maker a rational decision-making model. Perfect rationality: a decision strategy that is completely informed, perfectly logical, and oriented toward economic gain. Bounded rationality: a decision strategy that relies on limited information and that reflects time constraints and political considerations. Framing: aspects of the presentation of information about a problem that are assumed by decision makers.