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MGF1010 Week 6 Notes - Coggle Diagram
MGF1010 Week 6 Notes
LO2) Rationality, bounded rationality, and intuition.
Rationality.
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Clear, consistent, stable.
Bounded Rationality.
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Decisions made within the parameters of a simplified model that captures the essential features of a problem.
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LO5) Decision-making conditions, styles and common errors/biases.
Conditions.
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Modern manager experiences wide range of conditions due to shifts in both specific and general environments.
Styles.
Linear.
Rational, logical thinking.
Non-linear.
Internal insights, feelings.
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