MGT 3200 : Exam 2 Material MGT
Document Summary
Exam two objectives (from the notes & outside reading) 2: what does the traditional economic model assume about decision-makers? (2 assumptions) Maximize-best alternative, satisfice-pick alternative that seems good enough. Keep picking alternatives until get best one that fits. Limited mental capacity (5-9 things in mind), unpredictable future, emotions. Used when we have limited information, simplify complex environments, Advantages: save time, more good decisions, efficient and effective. Irrational-don"t have a lot of information or experience, go on gut and intuition, select the favorite alternative, never give alternatives fair chance, looking at other alternatives is waste of time, irrational because already made a decision. Pringles, wet leaves, airdry in can, stack when wet. Generate ideas alone, rigid and structured, 1 person speaks at a time in sequence. Ngt-members never meet and remain anonymous, no team, collection of individuals. Poor questionnaires and surveys, take too long between each step, people lose interest, deemphasizes group process.
