Our manager, Mr. Myers, wishes to congratulate you on your decision to take the next step in your career choice. He knows that the procedure for the promotion is outrageous, but he knows you have what it takes to be a managerial consultant for Value Topics Inc. With that in mind, he tells you that the board of directors has given him the first assignment for you to complete and pass. He explains that the board wants you to prepare a report discussing the rational choice model for business decision making. He also explains that the report must outline the steps in bounded rationality and rational decision making.
Primary Task Response: Within Discussion Board area, write 3 paragraphs which respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Describe the rational choice model for business decision making. In you posting, you must also outline the steps in bounded rationality and rational decision making. For full credit, you must address the following in your posting:
Explain the rational choice model for business decision making.
Outline the steps in bounded rationality and rational decision making.
Describe System 1 and System 2 thinking.
Describe the judgmental heuristics of the idea of implementing a new line of clothing.
Describe the availability heuristics of the idea of implementing a new line of clothing.
Describe the representative heuristic of the idea of implementing a new line of clothing.