BUSI 2101 Chapter Notes - Chapter 17: Decision-Making, Bounded Rationality, Absenteeism
20 Apr 2016
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Decision making can be tough/frustrating and lonely while making these important decisions. Main stereotype that needs to be broken is the idea that decision making in the organisation is done alone. Focus should be on managing the process of decision making over problem solving skills of making a specific decision/costs and benefits and the correct application of these decision making methods in diff situations. Intervention: pointing out the needs for the decision, networking, picking out the good ideas, new norms: setting realistic objectives for the decision before considering options. 2: participation: task forces w/ key ind. Integrated benchmarking: studying several orgs to learn from their best practices and mistakes. Bounded rationality: ppl are restricted w/ in the info they have to make decisions, don"t search for solutions thus settle for less than the optimal solution. Bounded discretion: limits decision alternatives to those that fall w/in the bounds of current moral/ethical standards.
