Managerial Decision Making essay 8 Example | Topics and Well Written Essays - 1250 words

Managerial Decision Making 8 - Essay Example Most researchers explain analogical thinking as the process of remembering a situation of the past and abstracting information from the same in order to develop better understanding of the present situation (Foreman & Selly, 2001). The purchasing decisions of individuals are influenced by analogical reasoning. It is considered as a technique which shoppers use to increase the satisfaction regarding the purchased commodity or service (Foreman & Selly, 2001). Last week when I was purchasing a mobile handset, I adhered to the information that was provided to me by the store keeper. Instead, if I had used my own analogical reasoning, perhaps I could have made a better purchase. Through analogical reasoning I could have analyzed my previous experiences with different brands. Analogical reasoning could have also helped me to consider and match my needs with the offerings of the product and chose more wisely. Biased behavior is a common issue faced in the daily lives of most individuals. Biasness refers to supporting a particular theory, an individual or to think in a particular manner without being rational. Biasness from others may arise out of different reasons such as lack of knowledge, attachment with particular individuals or the lack of familiarity with certain situations. Biasness may often cause individuals to take wrong decisions (Frame, 2012). Biased thinking may also arise out of individual heuristics. Heuristics is the process of taking decisions quickly without analyzing the same in depth or logically. Such an effect leads to the generation of cognitive biasness. Biased judgment can also arise out of wishful thinking. Wishful thinking and beliefs of individuals may act as suitable motivations for biased decision making. Understanding other people’s biasness is an important aspect while working in teams or while taking decisions collectively. This helps in understandi ng the motive behind their biased thinking. Once the motive is

Give your reaction to the story, your impression of the story, how it Essay - 2

Give your reaction to the story, your impression of the story, how it relates to your life. just basically compare them to each other - Essay Example The family in The Rocking Horse Winner also preserves their lifestyle, even when they cannot afford it: â€Å"There was always the grinding sense of the shortage of money, though the style was always kept up† (Lawrence). These stories share symbols of superficial opulence that foreshadowed their miserable endings. Miss Brill uses the fur, while The Rocking Horse Winner has the rocking horse. The rocking horse contains Pauls â€Å"secret of secrets† (Lawrence). Paul employs the horse to find luck and money, so that the whisperings in his house about having â€Å"more money† will cease. He dies as he pursues luck, which indicates that going after money as an end in itself is meaningless. In Miss Brill, fur is a dead animals skin and stands for Miss Brills life, which is equally lifeless and depends only on the life of people using it. Miss Brill also relies on using others peoples lives to fill up her empty life. She remains dead, however, being alone and poor. The Rocking Horse Winner and Miss Brill employ symbols to depict that materialism is a horrible human goal, which can only result to misery and death. Money cannot buy love or happiness. It cannot ensure loving human relationships. Paul dies believing that money is everything, while Miss Brill lives on crying inside her glassed life of delusions. They suffered tragic endings, because of their materialistic endeavors in life, and leaves behind the moral: The more people treat materiality as everything, the more that materialism actually takes their