With information that you gained from an Internet and literature search, discuss the concept of satisficing. In your answer, discuss the positive and negative aspects of applying satisficing in decision-making.
Discuss how bias has blocked your ability to make a rational decision. In your answer, discuss the heuristic that you may have used and the bias associated with that heuristic. What could you have done to overcome the bias generated by the heuristic?
Visit the website http://motherjones.com/politics/1977/09/pinto-madness and read the article concerning the Ford Pinto. How did the decision making process help to create the problems for the Ford Pinto? Do these decisions represent optimizing behavior or satisficing on the part of Ford? If you were Lee Iacocca, would you have decided differently? How?
Bazerman, M. H., & Moore, D. A. (2009). Judgment in managerial decision making (7th ed.). Hoboken, NJ: Wiley.
200 word minimum response required for each question. Credible reference materials, including your course textbook(s), may be used to complete the assessment.
- In-text and reference citations are required for all written responses.