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CTH Introduction to Business Operations
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This is 'bounded rationality' – rational decision-making within limits). Since management decisions are made with limited information, it is impossible to set objectives for profit maximisation, or sales maximisation, or the maximisation of shareholder wealth, since managers do not know what these are. Instead managers search for a satisfactory set of objectives and they stop searching when they have identified them. Simon used the term 'satisficing' to describe this decisionmaking process. Managers set objectives that appear to be satisfactory and are consistent with the broad theoretical aims of the organisation.
The grid is intended as a simplified snapshot of a manager's preferred style, not a comprehensive description of his or her performance. Organisational context and culture, technology and other 'givens' influence the manager's style of leadership, not just the two dimensions described by the grid. Any managerial theory is only useful in so far as it is useable in practice by managers: if the grid is used only to inform managers that they 'must acquire greater concern for people', it may result in stress, uncertainty and inconsistent behaviour.
The leader has only superficial trust in subordinates, imposes decisions, never delegates, motivates by reward and, though sometimes involving others in problemsolving, is basically paternalistic. System 3: Participative. The leader has some confidence in subordinates, listens to them but controls decision making, motivates by reward and a level of involvement, and will use the ideas and suggestions of subordinates constructively. System 4: Democratic. The leader has complete confidence in subordinates who are allowed to make decisions for themselves.