MGT 3200 : Exam 2 Review
Document Summary
Exam two objectives (from the notes & outside reading) Programmed: specific procedures that have been developed for repetitive and routine problems. Managers are unable to grasp the full complexity of managerial decisions. Managers select the first alternative that meets a minimally acceptable standard. A labor saving device, a short cut, a rule of thumb. Advantages: time savings and they may produce more good decisions than bad decisions. Managers assess the frequency of an event by the degree to which those instances of that event are easily recalled in memory. Events that evoke emotion, are vivid, are recent, are easily imagined, and are specific will be more available in memory and will be judged as more frequent than is really the case. Tendency of managers to assess the likelihood of an occurrence by matching it with a preexisting category (i. e. stereotype) Can lead to prejudice and discrimination; causes us to miss opportunities and make mistakes.
