Overcome current decision making conditions in organization

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Reference no: EM1333972

1- Identify one other example of a decision (past or present) that was once considered "rational" but that is now reviewed as "irrational". Do not analyze a personal decision but one from a published or academic source.

2- Explain, in detail, why the decision was once considered "rational" but would now be considered "irrational".

3- Identify the decision theory from our learning in Unit 2 you believe was used in the original decision making within your example. You may select from expected utility theory, prospect theory, regret theory, pseudocertainty, satisficing, or noncompensatory strategies (all theories learned in Unit 2). Be sure to fully support "why" the theory you selected was present. Simply naming a theory won't be enough...you need to support your answer.

4- Identify at least three (3) recommendations (from your group to the CEO) that will help him improve or overcome the current decision making conditions within the organization.

Reference no: EM1333972


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