Flashcards in Chapter 12 Deck (7)
What is rational decision-making model
A decision-making model is the one, that describes how individuals should behave in order to maximize some outcomes
What is bounded rationality
Bounded rationality is the idea that when individuals make decisions, their rationality is limited by number of constraints.
What is Intuitive Decision-Making
Intuitive decision-making ability is also known as 'sixth sense' and involves being able to gather information that other individuals may miss. It is the opposite of rational decision making, which is when individuals use analytics, facts, and a step-by-step process to come to a decision.
What are 2 major need theories of motivation
- Maslow’s hierarchy of needs
- Alderfer’s existencerelatedness-growth theory
What is Expectancy theory
Expectancy theory focuses on how workers decide what behaviors to engage in on the job and how much effort to exert
What is Equity theory
Equity theory proposes that workers compare their own outcome/input ratio to the outcome/input ratio of a referent.