The expression bounded rationality means a the cognitive limitations exist for human beings b that our understanding of complex situations is bounded by our personal anxieties c that no real rationality exists because we suffer from many psychological biases d that many strategic decision are taken. By noodle managers who lack the intelligence and imagination of top managers

The expression bounded rationality means a the cognitive limitations exist for human beings b that our understanding of complex situations is bounded by our personal anxieties c that no real rationality exists because we suffer from many psychological biases d that many strategic decision are taken. By noodle managers who lack the intelligence and imagination of top managers

Management, Loose-Leaf Version

13th Edition

ISBN:9781305969308

Author:Richard L. Daft

Publisher:Richard L. Daft

Chapter9: Managerial Decision Making

Section: Chapter Questions

Problem 6DQ

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a) Why is decision making often described as the essence of a manager’s job? b) Is there a difference between wrong decisions & bad decision?Why do good managers sometimes make wrong decision? Bad decision? c) How can managers improve their decision-making skills? (600-700 words