Can I get help with these two questions? I need a 150-200 word response for both. My computer is not letting me pull up the website on the first question.
1. Visit the website http://motherjones.com/politics/1977/09/pinto-madness and read the article concerning the Ford Pinto. How did the decision making process help to create the problems for the Ford Pinto? Do these decisions represent optimizing behavior or satisficing on the part of Ford? If you were Lee Iacocca, would you have decided differently? How?
2. Discuss bounded rationality. In your discussion, explain the term as well as its importance in rational managerial decision-making.© BrainMass Inc. brainmass.com October 17, 2018, 10:17 am ad1c9bdddf
Please see the attached file.
1. Ford Pinto failed to realize that consumer safety is of utmost importance and instead compromised on their security. No research was done prior to producing the product; instead a shorter route was taken which put at risk safety of consumers and generated unnecessary legal ramifications. The organization wanted to provide consumers with a vehicle that offered convenience. However, the organization failed to assess if the vehicle fulfilled every need. It resulted in ineffective product distribution and decreased customer service leading to increased number of ...
Managerial decision making for bounded rationality is discussed.
A manager performs a financial analysis of each alternative in order to determine which alternative is most likely to impact the organization's profitability. This manager is focusing on which criterion for decision-making?
According to the administrative model of decision making, if managers cannot possibly specify all of the possible alternatives to a decision, this is the result of:
an optimum decision.
PepsiCo purchased KFC so that it could replace Coke products with Pepsi products in KFC restaurants. This was an example of:
a low-cost strategy.
a global strategy.
a diversification strategy.
The explosion of the space shuttle Challenger is an example of poor managerial decision-making wherein managers neglected the criterion of __________.
GE Financial Services is an example of which level of management operations for General Electric Company?
When managers cannot assign probabilities of future occurrence to possible alternatives to a decision, this is known as __________.
An organization creates a list of possible future forecasts of business situations and creates a plan to respond to each of these forecasts. This is known as __________ planning.
In the Five Forces Model, the type of competitive activity that exists between organizations is known as the:
potential for entry into the industry.
threat of substitute products.
power of customers.
level of rivalry.
power of suppliers.
When an organization updates its five-year plan annually in order to take into account changing conditions within the organization and in the organization's external environment, this is known as which type of plan?
When a manager makes a decision based on a generalization from a very small sample of information, this is known as:
the illusion of control.View Full Posting Details