Herbert Simon (cited in Certo & Certo (2014) questioned the ability of managers to make rational decisions. In his opinion, managers are not able to make perfectly rational decisions. a. Do you agree? Why/Why not? b. Secondly, it is often said that managers often make decisions without all the necessary information. Why is this so?
Herbert Simon (cited in Certo & Certo (2014) questioned the ability of managers to make rational decisions. In his opinion, managers are not able to make perfectly rational decisions. a. Do you agree? Why/Why not? b. Secondly, it is often said that managers often make decisions without all the necessary information. Why is this so?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Herbert Simon (cited in Certo & Certo (2014) questioned the ability of managers to make rational decisions. In his opinion, managers are not able to make perfectly rational decisions.
a. Do you agree? Why/Why not?
b. Secondly, it is often said that managers often make decisions without all the necessary information. Why is this so?
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