Unit I Asses Managerial Dec Mak

Question 1

Explain what an alternative is and why it is important to decision-making. Your answer must be a minimum of 75 words in length.

Question 2

Define System 1 and System 2 thinking. Explain how they are relevant to decision-making. Your answer must be a minimum of 75 words in length.

Question 3

Explain what boundaries are and why they are important in decision-making. Your answer must be a minimum of 75 words in length.

Question 4

Describe the three forms of overconfidence, and give examples of how overconfidence has caused some bad historic decisions. Your answer must be a minimum of 300 words in length.

Question 5

Explain rational decision-making, and briefly discuss the six steps needed to achieve rational decision-making. Your answer must be a minimum of 300 words in length.