12 Sep Review the classical and behavioral models of
Review the classical and behavioral models of decision making information presented below then write an essay of approximately 400 words providing examples of when you have used optimizing decision making and examples of when they have used satisfying decision making for your real-life situations.
Figure 9.3 from the textbook provides a comparison of the classical and behavioral models of decision making. Classical decision theory views the manager as acting in a world of complete certainty. Behavioral decision theory accepts the notion of bounded rationality and suggests that people act only in terms of what they perceive about a given situation.
Classical and Behavioral Decision Theory: Classical decision theory assumes that the manager faces a clearly defined problem, knows all possible action alternatives and their consequences, and then chooses the alternative that offers the best, or “optimum,” solution to the problem.
Most of us have access to decision-making support from expert systems that reason like human experts and follow “either–or” rules to make deductions. Fuzzy logic that reasons beyond either-or choices and neural networks that reason inductively by simulating the brain’s parallel processing capabilities are becoming operational realities that will move beyond simple programmed decisions.
Bounded rationality is a shorthand term suggesting that, while individuals are reasoned and logical, humans have their limits. Individuals interpret and make sense of things within the context of their personal situations. They engage in decision making “within the box” of a simplified view of a more complex reality. This ultimately leads to satisfying wherein decision makers choose the first alternative that appears to give an acceptable or a satisfactory solution to the problem.
This makes it difficult to realize the ideal of classical decision making. As a result, the classical model does not give a full and accurate description of how most decisions are made in organizations.
The Garbage Can Model: The garbage can model views the main components of the choice process – problems, solutions, participants, and choice situations – as all mixed up together in the “garbage can” of the organization. When the organizational setting is stable and the technology is well known and fixed, traditions, strategy, and the administrative structure help order the contents of the “garbage can.” When the organizational setting is dynamic, the technology is changing, demands are conflicting, or the goals are unclear, the components of the “garbage can” get mixed up.
The garbage can model highlights two important organizational facts of life:
Different individuals may do choice making and implementation.
Many problems go unsolved.
BE SURE TO USE PROPER PUNCTUATION, SPELLING, AND GRAMMAR.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Wridemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.