Management
13th Edition
ISBN: 9780133935813
Author: Stephen P. Robbins; Mary A. Coulter
Publisher: Pearson Education (US)
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Question
Chapter 2, Problem 4RDQ
Summary Introduction
To determine:
The various types of problems and decisions along with the three decision-making conditions.
Introduction:
Managers take decisions based on rationality and bounded rationality. Rational decisions are made aiming to maximize profit pr satisfaction. Bounded Rationality decisions are not realistic as there will be assumptions underlying taking decisions.
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- What are the steps of effective decision making? Is there a difference between wrong decisions and bad decisions? Why do good managers sometimes make wrong decisions? Bad decisions? How can managers improve their decision making skills?arrow_forwardWhat are the key steps involved in the decision-making process according to decision theory, and how can decision analysis tools and techniques aid in each step?arrow_forwardDiscuss FOUR (4) ethical questions that a manager should ask when evaluating a proposed action to make decision.arrow_forward
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