Question:
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:
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:
One that involved the condition of certainty.
One that involved risk (subjective probability).
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.
APA style and references.