Importance in rational managerial decision-making

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Reference no: EM1333006

Give a 150-200 word response for both.

1. Visit the website 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?

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

Reference no: EM1333006


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