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Concepts of Decision Making Assignment

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Added on  2020-04-01

Concepts of Decision Making Assignment

   Added on 2020-04-01

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Running head: CONCEPTS OF DECISION-MAKINGConcepts of Decision-Making Part 2Name of the StudentName of the UniversityAuthor’s Note
Concepts of Decision Making Assignment_1
CONCEPTS OF DECISION-MAKING1Part 2Executive SummaryThe report reflects three cases of Woolworths where their decision went wrong or bias can beidentified in their decision. The scenario is then related with the Simon’s decision makingconcepts along with the solution to overcome the situation. It is noticeable in the report that theissues arrived due to lack of knowledge and intellect of the decision-maker of the organizationthat resulted into strategic failure.
Concepts of Decision Making Assignment_2
CONCEPTS OF DECISION-MAKING2ContentsExecutive Summary.........................................................................................................................1Introduction......................................................................................................................................3Concept 1 – Judgment and Decision-making..................................................................................3Scenario of the Case.....................................................................................................................3Explanation..................................................................................................................................4Concept 2 – System 1 and 2 thinking..............................................................................................4Scenario of the Case.....................................................................................................................5Explanation..................................................................................................................................5Concept 3 – Bounded Rationality....................................................................................................6Scenario of the Case.....................................................................................................................6Explanation..................................................................................................................................6Summary..........................................................................................................................................7Conclusion.......................................................................................................................................7References........................................................................................................................................9
Concepts of Decision Making Assignment_3

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