Defining the Manager Term Paper

Open, View, and/or
Download this Document

Total Length: 646 words ( 2 double-spaced pages)

Total Sources: 1+

Page 1 of 2

Manager

When Work is Frantic, Managers Need Ways to Expand Horizons is an article that essentially refers to the fact that successful decision-making in business is largely a function of developing a strategy and business model that is unique and effective in fulfilling customer need gaps ahead of the competition, while simultaneously managing to establish cost efficient ways of doing so in order to maximize profitability. Today's increasingly competitive and fast paced world, however, does not allow managers the luxury of either the resource or the time to follow systematic and streamlined methods of studying and analyzing the environment sufficiently enough to come up with sustainable, competitive ideas. The situation described by the article therefore relates to Herbert Simon's theory of 'bounded rationality,' which suggests that the costs of acquiring present information as well as uncertainty about the future limit the extent to which managers can make fully rational decisions, leading to 'bounded rationality.' Under 'bounded rationality,' managers are forced to make decisions not by 'maximization' but by 'satisficing,' or compromising on less than the ideal aspirational level.

Stuck Writing Your "Defining the Manager" Term Paper?

View All Our Example Defining the Manager Term Paper

Have A Custom Example Essay Written

In the event that the compromise decision is not good enough, managers are further compelled into once again changing either the aspirational level or the decision (Herbert Simon).

Availability Heuristic' also plays a role in the kind of decision-making environment described in the article. If managers are being forced into multi-tasking at lightening speeds, then inevitably they are taking decisions based on what they can remember instead of taking the time to look at the complete picture. Chances are also very high that their decisions are getting influenced by the more recent events, which have had a more vivid impact though such events or data may actually be the exception in reality and not representative of market trends (Availability Heuristic).

The concept of 'group think' relates to the article under consideration as well: "...the managers are forced into an ever-narrowing circle of contacts….....

Show More ⇣

     Open the full completed essay and source list


OR

     Order a one-of-a-kind custom essay on this topic


sample essay writing service

Cite This Resource:

Latest APA Format (6th edition)

Copy Reference
"Defining The Manager" (2003, November 21) Retrieved June 30, 2025, from
https://www.aceyourpaper.com/essays/defining-manager-158851

Latest MLA Format (8th edition)

Copy Reference
"Defining The Manager" 21 November 2003. Web.30 June. 2025. <
https://www.aceyourpaper.com/essays/defining-manager-158851>

Latest Chicago Format (16th edition)

Copy Reference
"Defining The Manager", 21 November 2003, Accessed.30 June. 2025,
https://www.aceyourpaper.com/essays/defining-manager-158851
   

Open, View, and/or
Download this Document
order custom essay example