Explain and elaborate by the Theory of "Bounded Rationality" by Herbert Simon
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Explain and elaborate by the Theory of "Bounded Rationality" by Herbert Simon
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- How acceptance of responsibility of a decision in running business matters?Describe Limited decision making?Please offer a resolution to the following case utilizing both utilitarian and deontological approaches then explain which approach renders the best course of action. A major tobacco company has proposed that its new CEO be nominated to the board of directors of a three-hospital regional health system. The CEO lives and works in the community. In addition to suggesting membership on the board, the tobacco firm has indicated a willingnes to sponsor or cosponsor a variety of health promotion activities in the community, with special outreach to children and persons who are economically disadvantaged. The health system's senior management team is divided about whether to proceed with the nomination. Some believe that because the CEO brings much needed expertise in the areas of finance and investment, he is a good candidate for the board. Others believe that, despite these qualifications, such a nomination might be viewed as supporting the tobacco companies product and…