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Application of the six basic steps in the rational decision

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Reference no: EM131352034

System 1, System 2 and Bias Thinking

The difference between System 1 and System 2 Thinking.

  • Demonstrated the application of the six basic steps in the rational decision process of System 2 Thinking as outlined in this week's readings: Define problem, identify criteria, weigh criteria, determine alternatives, rate alternatives based on criteria, and determine optimal decision;
  • Introduced the managers to a minimum of three biases that can influence decisions that are made through both System 1 and System 2 Thinking.

Reference no: EM131352034

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