in the section entitled ‘Failed bounded rationality decision’ you have described an interesting example and stated:
“The same bread manufacturing company, that I worked for the owner decided to launch, a new plant manufacturing cakes, after being in operation for 1 year, he cross surety’s for both the plants, and after no achieving the required gross profit and layout expenditure, after 6 months in operation of the second plant both the plants had to be closed down.

This is an example of `heuristics’ as mentioned in Brooks (2009).”(Answer should be about 250 words)
It would be good to explain this a bit further as to why you think that this is an example of heuristics?
Brooks, I. (2009) Organisationalbehaviour: individuals, groups and organisation. 4th ed. Harlow, UK: Pearson.

Question 5
With regard to stakeholder management and communication we could argue that it is important to develop positive relationships. (Answer should be about 300 words)
What do you think are the influences of cognitive biases as explained in Brooks (2009: 67) on the process of developing positive relationships?
Brooks, I. (2009) Organisationalbehaviour: individuals, groups and organisation. 4th ed. Harlow, UK: Pearson.