Every day and in every aspect of our lives, we make decisions. In this discussion, we will ask you to reflect upon your own decision-making.
Before you begin this discussion, be sure that you have read the following chapter:
• Hellriegel, Don; Slocum, John W. (2010). Organizational Behavior. Cengage Textbook. Kindle Edition.
Chapter 14: Managerial Decision Making
Pay particular attention to the section on Bounded Rationality in this chapter.
Respond to the following:
• Identify three examples of a personal problem or decision that you have experienced. These three examples should be one of each of the following types:
º One that involved the condition of certainty.
º One that involved risk (subjective probability).
º One that involved uncertainty.
• Think of an organization in which you are or have been an employee. Describe a decision situation that seemed to be based on the bounded rationality process in relation to the concepts of satisficing, limited research, and inadequate information and control.