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Bounded rationality describes the limitations of rationality

27. According to Change Competency: Shoes For Crews Reduces Risk and Uncertainty, which of the following has been a result of the warranty implemented by Shoes For Crews?:
a.
Shoes For Crews sales increased 3-fold within the first year of implementing the program.
b.
Shoes For Crews initially suffered great financial loss, but have successfully recovered.
c.
50% of US employees wear Shoes for Crews brand.
d.
9 of the 10 largest restaurant chains in the country either buy the Shoes For Crews brand for their employees or urge them to do so.


ANS:  D                  

   28.   ____ describes the limitations of rationality and emphasizes the decision-making processes often used by individuals or teams.
a.
Satisficing
b.
Temporal immediacy
c.
Bounded rationality
d.
Concentration of effort


ANS:  C                     

   29.   ____ is the tendency to select an acceptable, rather than optimal, goal or decision.
a.
Satisficing
b.
Satisfying
c.
Settling
d.
Resting


ANS:  A                        

   30.   The ____ is among the four basic models of organizational decision making.
a.
tacit model
b.
bounded rationality model
c.
lateral model
d.
dynamic model


ANS:    B