Essential of Management.docVIP

Essentials of Management What is the term used to describe acceptance of solutions that are good enough ? Decision-making behaviour that is rational BUT is limited by the ability to process information Cannot analyse all possible information Result is satisficing - accepting solutions that are good enough Need to bear in mind escalation of commitment - increased support for a previous decision despite evidence it is wrong Two characteristics of an analytic style of decision making High tolerance for ambiguity Rational way of thinking Want lots of information Ability to cope with uniqu