MGT 716 Week Four Journal Article Analysis

Aug 16th, 2016
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University of Phoenix
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Written answer based on an analysis of seven articles from a management philosophy table for week three assignment.

Word Count: 1270
Showing Page: 1/8
Running head: CHOOSING A PHILOSOPHYChoosing a PhilosophyUniversity of PhoenixChoosing a Philosophy1CHOOSING A PHILOSOPHY2Every day a manager instinctively makes decisions in difficult situations. Nevertheless, therational decision-making procedure is not an alternative. The bounded rationality model wasproduced to clarify making rational decisions under time limitations and weights. What amountof item ought to be purchased? Who should be hired? What clothes should be purchased?Rational decision making is when people use an exact regulated procedure to make complexdecisions. In the following paragraphs administrative and systems theories are evaluated inrelation to bounded rationality philosophy. Similarities or differences between systems andadministrative model theories are analyzed.Bounded RationalityBounded rationality philosophy means people have limited cognitive ability, information, andtime to make decisions (Eisenhardt & Zbaracki, 1992). March & Simon played a part indiscovering bounded rationality. Disagreeing with Fayol, they stated to make decisionsrecommended by administrative theorists a manager must be aware of alternatives (Tosi, 2009).The philosophy is depicted as open rational systems thinking in Scott and Davis (2007). Becausemanagers do not have time, mindset, or information to make complex decisions they satisfice.A hasty decision based in limited information may fail to solve the problem (Yukl, 2013, p. 28).The administrat

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