Essay about bounded rationality

1015 Words Oct 7th, 2014 5 Pages

Assignment 1: OVERALL STRUCTURE The following is an example of how this assignment might look when finished. The word limits are indicated at the end of each section. This is neither an essay or a report; it is simply an assignment with 3 sections. It does not need to have an introduction or a conclusion. Clarity is achieved by clear section headings, and clear paragraphing.

NB: our example does not reach 1500 words; further paragraphs need to be written in sections 2 and 3.

The Decision
A mining claim of 60 miles had to be staked, and the project manager Tom Parker decided to budget 7 days and 3 assistants to do it. He based this decision on his own
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Taking this rational approach, I would have employed the Eight-step decision making model (McKee, 2010) which aims to rationally identify and evaluate alternative options to a situation. The first step in the mining situation would have been to clearly identify any possible problems by gathering all available data on geographical area, and if such data had not been available, I would have allocated the first work day to flying around the claim perimeters with the helicopter.
In a similar vein, I would have made a rational assessment of the workers’ strengths and weaknesses before choosing them. According to rational models, decision-makers ‘have excellent judgment’ (Teale et al., 2003 p.16), and I would have based my judgement on knowing more about each worker’s personality type (Robbins & Judge, 2011), rather than assuming, as Parker did, that experienced workers would all be the same. ….
Furthermore, I would have involved the assistant workers in the decision making process because, as Simon (as cited in Tolbert & Hall, 2008) argued, the more people involved in the decision making, the more rational and considered the decision is likely to be. ….
(224 words)

In this section each of these ‘shifts in focus’ could be expanded to fuller 2nd and 3rd paragraphs to fulfil the requirement for 500 words. The topic, i.e. the focus, of

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