mmb_take_test_unit_i_assessment__bba_3826-09e-4_....pdf

Take Test: Unit I AssessmentTake Test: Unit I Assessment

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Discuss the concept of satisficing. In your answer, discuss the positive and negative aspects of applying satisficing in decision-making.

Your response should consist of no less than 200 words.

Question 1

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Melissa Bunn

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Consider the last decision that you have made (purchase of an automobile, purchase of a home, seeking a new job, etc.). Then, discuss that decision in terms of the rational decision making model. How could you have improved your decision?

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Explain the availability, representativeness, and affect heuristics. In your answer, compare the three and discuss the positive and negative aspects of each.

Question 3

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Discuss bounded rationality. In your discussion, explain the term as well as its importance in rational managerial decision-making.

Question 4

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