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    Managerial Decision Making - Bounded Rationality

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    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.

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    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 ...

    Solution Summary

    Managerial decision making for bounded rationality is discussed.