Bounded rationality

Theodicy is a term which describes the problem with evil in the world and begs the question, if an all-knowing, all-powerful God exists, why does he allow evil to persist among his followers? This paper will seek to examine the relationship between good and evil and attempt to provide some explanation as to how evil continues to exist in a world in which God is a part of so many peoples’ lives. An argument will be made that evil thrives in modern society not because of any action that God fails…

advantages by identifying opportunities and threats and realigning with the business processes. Porter's approach to industry analysis relates to the task environment of the external environmental scanning. Porter's model deals with the intensity of the competition within the industries, and the basic competitive forces determine the intensity of the competition. The model consists of primarily five forces: (1) threat of new entrants, (2) rivalry among existing firms, (3) threat of substitute…

contract can never be a perfect one as we cannot anticipate all possible circumstances and contingencies, which made a contract incomplete. And we have limited capacity to possess information and foresee all possible scenarios, and this is bounded rationality. When executing a contract, we cannot make sure that information between both parties is shared and totally transparent at all time. Such asymmetry causes misinterpretation or malpractice of the contract, and above all these, when drafting…

The relationship between rationality and religious scripture has often been seen as a contentious one. Especially in the European intellectual tradition, much has been made of the dichotomy between medieval blind following of the Catholic clergy and the Age of Enlightenment, based on science and reason, which succeeded it. The infamous Galileo affair in the 1610’s if oftentimes cited by modern partisans of science as proof of the inherent incompatibility of religious belief and scientific,…

with Lasswell’s list, however. Essentially, it is pretty much impossible to be so thoroughly logical when assessing issues and concerns and this list simply cannot be effectively followed. Instead, many policy makers prefer to exercise the bounded rationality approach proposed by Nobel Prize winning economist, Herbert Simon in his book, Administrative Behavior. “Bounds” are essentially what people place on their decision. Ultimately, it is impossible for us as human beings to explore every…

interest of all and this theory is easy for me to resolve conflict and interest. When I make decision for ethical dilemma situation, I want related people still feel happy and glad even it is just a tiny happiness. Last but not least, I will use bounded rationality in decision making to choose the simplified and essential captures of decision without capturing all the complexity. And my decision certainly comprises integrity and mutual respect component as my code of ethics. In conclusion,…

Mintzberg’s Managerial Roles In the Mintzberg’s Managerial Roles (Lewis et al. 2004), there are 4 types of decisional roles: entrepreneur, disturbance handler, resource allocator and the negotiator. The role of an entrepreneur is to create strategies to meet the goals and to capitalize on opportunities (Lewis et al. 2004). In the case study, Dallaire’s mission was to ensure that the peace agreement was to be carried out and to ‘prevent further bloodshed’. He planned four options for the…

Culture in an organization often stands to be the vision of an organization. It is to no surprise that in different organizations, the culture of each can vary from one to another. Without a solid or definitive culture, or even a culture that is firm, the organization often that not do not have an identity of its own. It will merely be just a profit chasing brand or label. Given that most companies largely have their own culture, often managers look to implement change or alter the culture of…

As advocated by McGee & Fraser (2011) the reflective practice model enables teachers to look past the technical rationality, an approach that merely condenses teaching into a sequential process of techniques to be applied to their students. Instead reflection in and on action makes it possible for teachers to implement their newly acquired knowledge and monitor the effectiveness…

Flint Michigan Water Crisis In 2013, Flint, Michigan city officials debated switching from current provider Detroit Water and Sewage Department to Karegnondi Water Authority to save money.They turned to the Flint River which had been their primary water source until the 1960’s. Officials did not immediately treat the Flint River water to ensure it didn't cause corrosion in the pipes, leading to illness amongst residents. As the crisis progressed lead was found in the water and more than 100,000…