Management 6

Card Set Information

Author:
akoskey
ID:
110002
Filename:
Management 6
Updated:
2011-10-18 18:10:26
Tags:
business
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Description:
chapter 6
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  1. rational decision making
    a type of decision making in which choices are logical and consitent and maximize value; perscriptive, perfect world
  2. bounded rationality
    decision making that''s rational but limited by an individuals ability to process information; administrative model
  3. satisfice
    to accept solutions that are "good enough"
  4. intuitive decision making
    making decisions on the basis of experience, feeling, and accumulated judgement
  5. easy decisions
    structured problem and programmed decision
  6. difficult decisions
    unstructured problems (new or unusual) and nonprorammed decisions (unique and nonreoccuring decision with custom made solutions)
  7. linear thinking style
    a decision style characterized by a person's preference for using external data and facts processing this information through rational, logical thinking
  8. nonlinear thinking
    a decision style characterized by a person's preference for internal sources of information and processing this information with internal insights, feeling, and hunches
  9. heuristics
    rules of thumb that managers use to simplify decision making

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