Halleys Comet Visitor from the Depths of the Solar System

Everyones heard of Comet Halley, more familiarly known as Halleys Comet. Officially called P1/Halley, this solar system object is the most famous known comet. It returns to Earths skies every 76 years and has been observed for centuries. As it travels around the Sun, Halley leaves behind a trail of dust and ice particles that form the annual Orionid Meteor shower each October.  The ices and dust that make up the comets nucleus are among the oldest materials in the solar system, dating back to before the Sun and planets formed some 4.5 billion years ago. Halleys last apparition began in late 1985 and extended through June of 1986. It was studied by astronomers around the world and even was visited by spacecraft. Its next close flyby of Earth wont happen until July 2061, when it will be well placed in the sky for observers.   Comet Halley has been known about for centuries, but it wasnt until the year 1705 that astronomer  Edmund Halley  calculated its orbit and predicted its next appearance. He used  Isaac Newtons recently developed Laws of Motion plus some observational records and stated that  the comet—which appeared in 1531, 1607 and 1682—would reappear in 1758. He was right—it showed up right on schedule. Unfortunately,  Halley did not live to see its ghostly appearance, but astronomers named it after him to honor his work.   Comet Halley and Human History Comet Halley has a large icy nucleus, just as other comets do. As it nears the sun, it brightens up and can be seen for many months at a time. The first known sighting of this comet occurred in the year 240 and was duly recorded by the Chinese. Some historians have found evidence that it was sighted even earlier, in the year 467 BCE, by the ancient Greeks. One of the more interesting recordings of the comet came after the year 1066 when King Harold was overthrown by William the Conqueror at the Battle of Hastings.The battle is depicted on the Bayeux Tapestry, which chronicles those events and prominently displays the comet over the scene.   In 1456, on a return passage, Halleys Comet Pope Calixtus III determined it was an agent of the devil, and he attempted to excommunicate this naturally occurring phenomenon. Obviously, his misguided attempt to frame it as a religious issue failed, because the comet came back 76 years later. He wasnt the only person of the time to misinterpret what the comet was. During the same apparition, while Turkish forces laid siege to Belgrade (in todays Serbia), the comet was described as a fearsome celestial apparition with a long tail like that of a dragon. One anonymous writer suggested it was a long sword advancing from the west...   Modern Observations of Comet Halley During the 19th and 20th centuries, the comets appearance in our skies was greeted by scientists with great interest. By the time the late 20th century apparition was about to start, they had planned extensive observing campaigns. In 1985 and 1986, amateur and professional astronomers worldwide united to observe it as it passed close by the Sun. Their data helped fill in the story of what happens when a cometary nucleus passes through the solar wind. At the same time, spacecraft explorations revealed the lumpy nucleus of the comet, sampled its  dust tail, and studied  very strong activity in its plasma tail.   During that time, five spacecraft from the USSR, Japan, and the European Space Agency journeyed to Comet Halley. ESAs Giotto obtained close-up photos of the comets nucleus,  Because Halley is both large and active and has a well-defined, regular orbit, it was a relatively easy target for Giotto and the other probes.   Comet Halleys Schedule Although the average period of Halleys Comets orbit is 76 years, its not that easy to calculate the dates when it will return by simply adding 76 years to 1986. Gravity from other bodies in the solar system will affect its orbit. Jupiters gravitational pull has affected it in the past and could do so again in the future when the two bodies pass relatively near each other. Over the centuries, Halleys orbital period has varied from 76 years to 79.3 years. Currently, we know that this celestial visitor  will return to the inner solar system in the year 2061 and will pass its closest to the Sun on July 28th of that year. That close approach is called perihelion. Then it will make a slow return to the outer solar system before heading back for the next close encounter some 76 years later. Since the time of its last appearance, astronomers have been avidly studying other comets.The European Space Agency sent the Rosetta spacecraft to Comet 67P/Churyumov-Gerasimenko, which went into orbit around the comets nucleus and sent a small lander to sample the surface. Among other things, the spacecraft  watched numerous dust jets turn on as the comet got closer to the Sun. It also measured the surface color and composition, sniffed its smell, and sent back many images of a place most people never imagined they would see.   Edited by Carolyn Collins Petersen.

Mountain Dew - 914 Words

Mountain Dew: Selecting New Creative Back Ground * Mountain Dew was invented by the Hartman Beverage Company in Knoxville, Tennessee in the late 1940s. The bright yellow-green drink in the green bottle packed a powerful citrus flavor, more sugars and more caffeine that other soft drinks and less carbonation so that it could be drunk quickly. * Pepsi co. amazed by Dew’s success in what brand manager would come to call the â€Å"NASCAR belt† * Mountain Dew is looking a new concept and Strategy on Brand and to determine what is the most appropriate decision; to sustain or to improve brand position in the market. And suggestion of conceptual process by which creative can be selected for Mountain Dew as part of a brand’s strategy†¦show more content†¦Key competitor was raising their ad budget as competition heads up to send Mountain Dew sales below the target 5. The introduction of new functional drink and high energy drink like Red bull 6. Coca cola has become the number 1 America drink of choice. 7. Mountain Dew rose from its regional status to become a major â€Å"flavor† brand. Three major flavor brands dominated different geographic areas: a. Dr. Pepper dominated Texas and the rest of the deep South b. Mountain Dew dominated rural areas, particularly in the Midwest and Southeast c. Sprite dominated urban-ethnic area Options amp; Opportunities 1. To find the a way to symbolized that drinking Mountain Dew was an exhilarating experience without overexposing extreme sport a. Labor of Love A humorous spot about the birth of Dew drinker b. Cheetah One of the Dew Dudes, chase down the cheetah on a mountain bike. The cheetah running o the African plain, has stolen his Demand he wants it back c. Dew or Die The Dew Dudes are called in to foil the plot of an evil villain who is threatening to blow up the planet d. Mock Opera A parody of the Queen song Bohemian Rhapsody sung by the Dew Dudes who mock the cover of the original Queen album. e. Showstopper A take-off on an extravagantly choreographed production number that mimics a Buzby Berkeley musical/dance film forms the 1990s. 2. To pick up three out of five commercials toShow MoreRelatedMountain Dew2117 Words   |  9 Pagesbackground Mountain Dew has been through many changes since it was introduced in 1942. It started out as a yellow-green drink in a green bottle that had a rush of citrus flavor and more sugar and caffeine than any other soft drink. During the introduction of Mountain Dew it was well known throughout the Eastern seaboard. At this time the objectives was to gain market share. Mountain Dew became popular because of the stock car racing circuit known as NASCAR. During the 1960s Mountain Dew’s objectiveRead MoreMountain Dew Case Study1595 Words   |  7 PagesWhat is the ad campaign of Mountain Dew that created awareness to its consumers? What is the impact of the Mountain Dew Ad campaign to its prospective customers? How did Pepsi Cola Company respond to the growing threat of non-carbonated soft drinks, especially energy drinks and tea? ANSWERS: In 1992, senior management at PepsiCo sensed an opportunity to increase business on Diet Mountain Dew. Diet Mountain {draw:frame} Dews distribution was limited mostlyRead MoreMountain Dew998 Words   |  4 PagesMountain Dew: Selecting New Creative Introduction â€Å"Do the Dew!† This was a long time tag line for the Mountain Dew brand. In 1995 marketing managers for Mountain Dew realized the tag line had lost consumer interests, understanding this they changed the direction of the creative. Though the creative changed, the target market for Mountain Dew remained in line. Mountain Dew’s ad campaign between 1995 and 1999 did not fare extremely well. PepsiCo decided that in 2000 Mountain Dew would be featuredRead MoreMountain Dew1446 Words   |  6 PagesAug 13,2010 Case Analysis Mountain Dew: Selecting new Creative 1. Introduction:- Product/Brand under study – Mountain Dew is a Carbonated Soft Drink Invented by Hartman Beverage Company in 1940.Its Bright yellow – Green in color and has more sugar, Citrus flavor, and Less Carbonation as compared to the other soft drinks available in the market. It was taken over by PepsiCo in 1964 and now stands 3rd in the soft drinks category. 5 C’s:- Company – PepsiCo is one ofRead More Mountain Dew Essay1068 Words   |  5 PagesMountain Dew Its cool and refreshing. Its satisfying and invigorating. Its Mountain Dew. But its not just regular pop. Its a lifesaver that keeps many college students alert during strenuous moments in their college life. Mountain Dew is a favorite of many students on the GC campus because it is relatively cheap to purchase and not difficult to come across. This power drink can be found in the cafeteria, at the Leaf Raker, and in many of the vending machines on campus. StudentsRead MoreMountain Dew Essays1163 Words   |  5 PagesBryan Schaeffer Mountain Dew The Mountain Dew case centers on the decision that the BBDO team and Pepsi executives made in regards to the Super Bowl advertisements to be aired in 2000. The creative team came up with 10 possible scenarios. Since their meeting took place in October (4 months prior to the Super Bowl) they had little time to produce the ads. The 10 concepts were quickly whittled down to 5 and the executives wanted to whittle them down to 3 in which to produce. From those 3, theRead MoreMarketing Report on Mountain Dew8655 Words   |  35 PagesReport Of Mountain Dew Introduction: Company Description PepsiCo, Inc. is among the most successful consumer products companies in the world, with 1999 revenues of over $20 billion and 116,000 employees. The company consists of: Frito-Lay Company, the largest manufacturer and distributor of snack chips; Pepsi-Cola Company, the second largest soft drink business and Tropicana Products, the largest marketer and producer of branded juice. PepsiCo brands are among the best known and most respectedRead MoreMountain Dew: Market Analysis988 Words   |  4 PagesMountain Dew Mountain Dew is a sugary green drink that has quenched the thirst of millions of Americans for decades, practically ensuring its place as 20th century Americana. The brand originated as an early energizing drink that would keep mountain trekkers powered through their hikes and outdoor activities. Since these humble times, Mountain Dew has maintained an image of a very rural American drink, satisfying customers through vending machines and convenience. In the 21st century, howeverRead MoreRacism And Sexism : The Mountain Dew1004 Words   |  5 Pagesthese issues of racism and sexism especially violence against women, and how they systematically affect specific subsets of people. The Mountain Dew commercial is one of three, the very last commercial. It opens with a line-up of men and a goat. The woman is asked by the police officer to point to the assailant. The purpose of the paper is to analyze the Mountain Dew ad â€Å"Nasty Goat† from a cultural studies perspective by criti quing the criminalization of African American men as well as violence againstRead MoreThe Worst Month Ever?890 Words   |  4 Pagesme what I was doing. I told her I was watching TLC. After I told her, she told me that I was watching men. I was confused, but I remembered that she was not in her right mind. While I was sitting beside her, she told me told put the lid on her Mountain Dew bottle, so I did. Then she asked me to do it again and again, even though it was already screwed on. I went to the living room. I started believing that she is ready to go home to God, so when I got home that night, I prayed and prayed. I told

Regional Economic Integration of Laos †Free Samples to Students

Question: Discuss about the Regional Economic Integration of Laos. Answer: Introduction: The Association of South East Asian Nation (ASEAN) is the name of a regional organization that promotes economic growth through accelerating economic integration among its ten member countries. At times of Asian financial crisis, policies are designed by ASEAN leaders to protect these regions from and external shocks in future. With this objective ASEAN economic community is formed to meet these needs. Since 2010, among 6 of its members including Brunei Darussalam, Malaysia, Thailand, Singapore, Indonesia and Singapore plasticized free trade since 2010. No trade restrictions were applied on these countries (intpolicydigest.org, 2016). With AEC, the newly added members Cambodia, Myanmar, Lao and Vietnam were come under the roof of free trade. The economic community has implication of reducing all the technical barriers towards free trade. The elimination of trade barriers enables countries to enjoy cheaper goods. In the international market producers sell their goods at a low price. The expansion of trade increases job opportunities in the member countries. In order to participate in exports countries needs to expand their production capacity which brings economic growth. The job market expands as job opportunities are not only limited to their home country but is expands to other ASEAN regions as well. The trade expansion and removal of barriers helps business to export their produced goods and import necessary raw materials at a cheaper price. Free trade accelerates competition among nation (giz.de, 2017). In order to remain competitive in the international market countries invest in innovation and technology. This enhances productive efficiency and improves the quality of goods. The increased economic activity such as investment, export, import results in a high growth rate in terms of increased GDP. The economic integration and increased economic activity means a greater inflow of capital in the form of investment, improved infrastructure to support investments, availability of skilled labor and business expansion. All these contribute to foster economic growth trade and bring a better world. For member countries like Laos and Myanmar the benefits of ASEAN economic community comes along with some negative impact. In case of Laos, the potential benefit comes in the form of more opportunities for participating in regional value chains with access to ASEAN market and production base. The opportunities of AEC impose some challenges on Laos public and private sector. For the part of the government it needs to implement some regulation and procedural changes in line with AEC agreement. The business sector has to adjust with trade opens up and increased competition from advanced economies of ASEAN. To completely from ASEAN agreement Laos needs to strengthen its small and medium sized enterprises. In Myanmar, the positive impact of AEC agreement are providing access to a large market of ASEAN region, expansion of investment and trade, opportunities for the country to negotiate on the international market. The country should be prepared to absorb risk in so0cial and economic environment as all the external barriers are now eliminated (eastasiaforum.org, 2017). Some sectors liked agriculture; infrastructure, financial sector and labor standard have sensed an adverse impact because of lack of regulation to protect environment and land. Therefore, for both Myanmar and Laos some adjustment needs to be done to counter the negative impact and enjoy the benefit from the new agreement. Consumption (C) = 5400 + 0.8Y Investment (I) = 2400 Export (X) = 1,700 Import (I) = 1800 + 0.075 National Income (Y) = Consumption + Investment + (Export Import) If export decreases by 200, then export becomes (1700-200) = 1500 If investment decreases by 400, then investment becomes (2400-400) = 2000 Consumption = 5400 + 0.8Y = 5400 + (0.8*28000) = 27800 Import = 1800 + 0.075Y = 1800 + (0.075*28000) = 3900 National Income (Y) = Consumption + Investment + (Export Import) The equilibrium level of national income is determined where actual expenditure matches with planned expenditure (Scarth, 2014). Planned expenditure = Consumption (C) + Investment (I) + Government Expenditure (G) + Net export (NX) Since, there are no government sector planned expenditure is the sum of the consumption, investment and net export. The actual expenditure is the 450 line. The initial equilibrium is E and equilibrium level of national income is 28000 and saving is 200. With a decline in investment and export, the actual expenditure curve shifts to the left and national income reduces to 27400. At the new equilibrium because of decreases in export given the import there is a trade deficit of the amount 2400. The effect of monetary and fiscal policy in a standard macroeconomic environment is described with a Mundell Fleming model. In the model there are three aspects- IS curve that captures the equilibrium in the goods market, LM curve that describes equilibrium in the money market and equilibrium in the foreign exchange market denoted by BP curve. The slope of the BP curve indicates the extent of capital mobility. A horizontal BP curve means perfect capital mobility, a vertical BP curve indicates capital immobility and an upward sloping curve reflects partial or imperfect capital mobility. Impact of fiscal and monetary policy is different under different system of capital mobility (Mankiw, 2014). The adjustment mechanism in response to policy changes is different based on exchange rate regime. The effect a fiscal expansion under fixed exchange rate regime and free capital mobility is described in the above figure. E shows the initial equilibrium model where IS, LM and BP curve meet at the same point. The equilibrium income and interest rate are Y* and R* respectively. Now, an expansionary fiscal policy shifts the IS curve to the right. The IS and LM curve cuts at the point E1. This raises the interest rate from R* to R1. In response to high interest rate, there will be inflow of foreign capital, leading to a surplus in balance of payment. The increased supply of foreign capital will push the interest rate down. Under the fixed exchange rate regime, the central bank purchases the additional foreign currency to keep the interest rate fixed. As a result, the money supply will increase. This shifts the LM curve to the right. The new equilibrium point is E2. At this point, the interest rate is back to its previous level while output increases from Y* to Y1. A monetary contraction taken in the form of reducing supply of money shifts the LM curve leftward from LM to LM1. This raises the interest rate from initial position of R0 to the new high level R1. The high interest rate causes balance of payment surplus resulted from increased supply of foreign currency. This pushes the interest rate down. Under flexible exchange rate system, the exchange rate declines (Uribe Schmitt-Groh, 2017). The appreciated currency encourages more import while reduces export by making export expensive. As a result, net export reduces causing a leftward shift of the IS curve from IS to IS1. The new equilibrium is at E1. At the new equilibrium output decreases from Y0 to Y1. References Mankiw, N. G. (2014). Principles of macroeconomics. Cengage Learning. Ramirez, B., Pooittiwong, A., Ramirez, B., Pooittiwong, A., Ferguson, D., Koplow, M. et al. (2017).ASEAN Economic Integration: Opportunities and Challenges that Lie Ahead.International Policy Digest. Retrieved 28 October 2017, from https://intpolicydigest.org/2016/01/06/asean-economic-integration-opportunities-and-challenges-that-lie-ahead/ Regional Economic Integration of Laos into ASEAN, Trade and Entrepreneurship Development (RELATED). (2017).Giz.de. Retrieved 28 October 2017, from https://www.giz.de/en/worldwide/17473.html Scarth, W. (2014). Macroeconomics. Edward Elgar Publishing. Uribe, M., Schmitt-Groh, S. (2017).Open economy macroeconomics. Princeton University Press. What the AEC means for Laos. (2017).East Asia Forum. Retrieved 28 October 2017, from https://www.eastasiaforum.org/2016/01/01/what-the-aec-means-for-laos/

Explaining Biases In Decision-Making Samples †MyAssignmenthelp.com

Question: Discuss about the Explaining Biases In Decision-Making. Answer: Critical examination of three concepts explaining bias Introduction Management and business demands managers to make decisions every day on a wide range of issues. Humans make decisions regularly and these decisions are influenced some or the other factor. These factors in addition are the results of the biases that affect the decision-making. Decision-making is a process that is continuous and has to be performed either with own choice or without. Maine, Soh and Dos Santos (2015), describe decision making as the right choice at the right time for achieving excellence in organizational management. According to Montibeller and Winterfeldt (2015), biases often hamper decision-making that further leads to failure of the organization. The author further points out different kinds of biases that include self-interest bias, social harmony bias, action-oriented bias and stability bias. The following essay, while introducing Herbert Simons quote, discusses three chief concepts that may help in explaining bias in decision-making. The essay elaborates Simons views on rational human choices and the influences of external forces on these choices. Explaining Simons quote The capacity of the human mind for formulating and solving complex problems is very small compared with the size of the problems whose solution is required for objectively rational behavior in the real worldor even for a reasonable approximation to such objective rationality (Simon, 1957). In the above quote, Herbert Simon speaks about the limited capability of human mind to make plans to solve complex problems. He states that the problems are bigger in size that the human mind capability to solve them. The solutions, states the author, are vital to humans as these define rational behavior or even for roughly acquiring the rationality to make decisions. The above quote is cited as the principle of bounded reality. According to the author, limited information restricts the rationality of individuals in decision-making. The limitations are not confined to information only, these go beyond cognition and time. He explains that if the principle turns out to be true then the objective of classical economic theory cannot be attained. The objective here is to predict a rational humans behavior without having to do practical research of his psyche. The consequences of this principle have also been described by the author. As the first consequence, the rational human would try to create a reality that involves simple models in which he acts and sustains. This simple model created by the rational man is not even approximately favorable to the model that real world has. In order to understand the rational humans behavior, says the author, one must comprehend the means that led to the creation of the simplified model. In this way, one can decipher the psychological traits of the human that pertain to his intellect, emotion and logical thinking. Foss and Weber (2016) argue that in the present form of transaction economics, bounded rationality principle takes a back seat giving way to opportunism. However, the authors also state that an augmented form of bounded reality does mitigate problems in transaction cost economy, while opportunism takes a back seat. In the second consequence of the bounded rationality principle, Simon explains that there has to be restrictions to human rationality otherwise; there would be no existence of administrative theory. Administrative theory rests in the fact that human rationality has practical limitations and these limitations are dynamic, depending upon the organizational setting where the individuals decisions occur. This paper explains the decision-making application on human minds rational behaviour which is used to formulate and solve any complex problems in the context of the real world. In explaining the concept of rationality by Simon, there is a need of examining rationality in terms of heuristics that are of four types. Availability, confirmation, bounded rationality and representativeness. It can be said that the theory of organization can never subsist without the rational choice of theory (Maitland Sammartino, 2015). It is best described to be intendedly rational which is based on two species that is entrepreneur and consumer. Heuristics are psychological decisions made by the individual to get solution of the most complicated problems. These factors help the individuals to make decisions faster but do not follow any regulations therefore have a lot of decision errors associated with the judgement conducted by the individuals. The rational behaviour relates to the decision making process based on the choices. These selections or choices are proved to be most beneficial for the individual though they do not always prove to be beneficial from monetary aspect. Simons research chiefly focus on the utility factor which can be emotional or other kind that assist people in their decisionmakingprocess. Simon has built his theories on these utility factors and described them in explaining common biases leading to judgmental error. Concepts explaining bias in decision-making Availability Heuristichas been a mentalshortcut which depends on immediate instances coming in the mind of the people while they evaluate some particular topics, concepts, methods as well as decision. In this context, the research states that the Availability Heuristicis heavily weighed by the people (Beach Lipshitz, 2017). For them, if something can be easily recalled, that it must be more important than the other alternative solutions because other solutions were not recalled at the time of necessity. It seems to the easiest way to form judgment for complex problems. These are basicallydone through percentage basis and probability basis. Due to this reason, these are not always accurate and lead to error in judgement. Therefore, it can be said that this kind of decision-making process is manipulative as people tend to use the readily available facts to found their beliefs hence completely biased. This concept illustrates that external manipulations anticipated to escalate the subj ective involvement of simplicity of remembrance are proved to affect the extent of recall (Shepherd, Williams Patzelt, 2015). In addition to this, these factors make the decision making process difficult to regulate the obtained approximations of likelihood or frequency. These are typicality based on the phenomenal experiences of people or on the biased samples of evoked information. The participants while making decision excessivelyrely on the various heuristics for aptitude and speed. Representative heuristic (RH) is important as it is very economical. At the time of decision making, there may be one of the two things identifiable in that case people definitely select the recognisable or known one. Here they utilize as well as reacha decision with the slightest amounts of information which they possess about the recognisable one. The research reveals that the recognized memory is perceptive, reliable and proved to be more accurate than the unknown one because even a smaller extent of recognition effects in more correct decisions (Montresor et al., 2015). In such cases, even a smaller amount of biasness can be present in judgement. Some people useadditional information simultaneously withusing their Representative Heuristics because they cannot rely only on the recognisable factors alone while making decision. According to Harrison, Mason and Smith (2015), Simons theorydefines Bounded rationality to create a way between the pre-established ends with the paths to reach the decided ways. It is explained as an assumption which points out the limits to the reasoning powers of the agents yet looks at the concept of judiciousness within the existing constraints (Toplak, West Stanovich, 2017). However, these have specifications in terms of value therefore, these are beyond the extent of science. The relation drawnby the factors of bounded reality between pre-established and desired goals, completely depends on theevaluation of the decision. This concept requires to point out all possible options, predicting of consequences followed by these possible options and finally measuring or evaluating all sets of options with consequences. From all these sets of alternative options including their consequences, one is selects in the decision making procedure. This concept has proved to be vital for any organisation, which requires proper acknowledgement of all the possible options. It also needs contemplation about the outcomes of the all alternative options and the valuation and measurement of the outcome of the consequences of each of the optionsbut in doing so it often makes biased decisions (Elbanna, Kapoutsis Mellahi, 2017). People often tend to make approximations which leads to fall towards the anchor parts whereas the real values tend to be far away from the primarily planted anchors. Through bounded rationality, it can overcome natural bias and ascribe to perfectly rational decisions. Conclusion Therefore, it can be concluded that the concept of rational behaviour gets biased by the human skills as well as limited knowledge. To achieve the essentialobjectives and decided goals, these conceptsby Simon are vital to be discussed. The notion of rational behaviour as associated biases described under the light of heuristics namely availability, representativeness and bounded awareness. These have been considered with the limitations of influences that are commonly external to human beings. The essay highlights these various concepts in the light of arguments from different scholars who have significant contributions to this domain. In addition, the essay presents a detailed discourse on the statement made by Herbert Simon on the principle of bounded rationality. He made a significant contribution to the world of decision-making by proposing this concept. The essay tries to establish a connection between heuristics and biases in decision-making by explaining Simons quote. A system atic approach has been maintained in the essay to explain the quote and the concepts related to it. Introduction The research conducted by Herbert Simon to delve into human cognition to dig out the possible reasons for biases in decision-making yielded fruitful results. However, it did not influence the community at large. He rejected the perfect rationality outright and invented a new principle of bounded rationality. His approach further accentuated the confines of the cognitive system, the transformation of practices due to proficiency, and the direct experimental study of cognitive processes included in decision-making (Matters, 2018). The report shall analyze the effectiveness of his principles and concepts by presenting scenarios of decision-making from the real world. Further, the report will examine the relevancy of Simons concepts of rationality by applying these to the given scenarios. In addition, it will analyze the methods used to recognize bias, the strategies to overcome these and improved decision-making in the future. The two scenarios chosen for the analysis include Volkswagen s disastrous decision to rig emission test and Motorolas negligence to trace market development. Scenarios of decision making from real world Launching a new product in the market could be a possible scenario where decision-making is crucial. It is vital for any company to carry out proper research and survey before launching a new product. The project managers role here becomes extremely important as he or she is the individual who has the responsibility to collect relevant information (York Danes, 2014). The manager has to take several critical decisions in order to ensure successful launch of the product. The launching of a new product involves complex processes beginning with marketing strategies. Development of a new product or technology involves decisions that are extremely unpredictable and demand ample strategic intercessions and productions (Sok O'Cass, 2015). Volkswagen, one of the largest car-selling companies in the world, decided to launch new cars providing low carbon emitting vehicles in 2015 for the American market Ferrell et al., (2016). The decision was made by the highermanagement without taking due consent or advice from the other team members. With a view to take over the US automobile market, the VW Company overlooked serious ethical issues. In 2015, it was found that the cars launched in the American market failed in emissions test. Reportedly, the automobile company illicitly installed a device that evaded emissions test required to meet the EPA standards. This massive breach of ethics cost the automotive giant heavily as it had to see the back of its former CEO Martin Winterkorn who was forced to resign, following the scandal (Reuters.com, 2018). The company was accused of following a culture of silence where the subordinates kept mum on the issue and allowed the top officials to make irrational decisions that led to the co mpanys inevitable downfall. Volkswagen rationalized its decision to rig emissions test by pointing out the extremely competitive market and the strategies to survive in it. The concept of bounded rationality helps explain this bias in decision-making by the VW officials. The company officials tried to rationalize their wrong decision by putting the blame on external factors like market competition and strategy for survival (Fortune.com, 2018). Another scenario that may explain bias in decision-making in the real world is that of Motorola, the cell phone manufacturing company. The company was high on profits with over 22% market share during the 2006-2007 periods (Albrecht, 2015). However, it failed to recognize the ongoing developments in the cell phone market and lagged behind in launching new brand of smart phones. By 2010, brands like Apple had already taken over the market leaving Motorola with no choice but sell its old phones at a low price. The decision to delay the launch resulted from the inability of themanagement team at Motorola to use information correctly. Recognizing bias Herbert Simon proposed the concept of satisficing, which is formed by combining the words satisfy and suffice to explain bias in decision-making. According to him, humans tend to look for options that are satisfactory enough to suffice their desire, without even trying to search through other viable options. In this way, they tend to make decisions that often yield unexpected and unwanted results. In technical terms, this concept refers to bounded awareness or bounded rationality. The concept is useful to explain the bias that occurred in the case of Volkswagen. The company had all the relevant information about the US market and its rules and regulations yet it decided to go ahead with the launch of low carbon emitting cars. The kind of bias that occurred in this decision-making scenario is anchoring bias. Montibeller and Winterfeldt (2015) define anchoring bias as fixation on initial information and inability to regulate for consequent information. Anchoring bias can be attributed to the concept of bounded rationality where individuals fail to notice valuable information. The case of Volkswagen can also be understood from the viewpoint of the availability concept. This explains that people take decisions based on the availability or ease of executing an idea (Taylor et al., 2017). Volkswagen targeted the US market, observing customers tendency to opt for vehicles that were affordable as well as environment friendly. They found it easier to lure the target market by claiming to produce cars with low carbon emissions. The decision to cheat emissions test by installing devices to evade EPA standards was a result of this availability heuristic. In case of Motorola, the bias that affected the decision-making process is the framing bias. Phillips et al., (2016) argues that framing bias in decisions occurs when individuals or companies fail to analyze developments in the market and make escalating commitments. Motorola made commitments to introduce advanced smart phones to meet the demands of the changing market dynamics but it was too late. Here, the concept of representativeness can be used to explain the bias. Representativeness refers to the choice made by people based on the similarities of behaviors or objects (Bordalo, Gennaioli Shleifer, 2017). However, they fail to realize that behaviors that represent something majorly do not always imply likelihood. The makers of Motorola mobile phones relied heavily on the customer behavior and thus paid the price. Methods by which bias may be measured or evaluated in the scenario Biases in decision-making occur frequently and none can evade or protect themselves from these biases. Aczel et al., (2015) present various methods to measure biases in decision-making. Precisely, the methods include individualized scores, constructing validity, motivation and comparability. In this case, the evaluation or measurement of bias is applied to two scenarios, one of Volkswagen and the other of Motorola. The Volkswagen case involved anchoring bias that prompted leaders to resort to unethical ways in order to attract profit. Individualized scores can be given to individuals at the company who were more susceptible to bias. Comparability refers to variations in vulnerability to bias in decision-making (Rezaei, 2015). The decision of employees at Volkswagen to stay silent on the issue despite knowing everything can be measured by this method. Decision-making biases at Motorola can be assessed by the method of constructing validity. People at Motorola suffered from framing bia s that can be measured by analyzing their behavior of neglecting ongoing developments by being over dependent on instincts (Morewedge et al, 2015). Strategies applied to overcome bias According to a report published in the Harvard Business Review, companies need to make five important steps to overcome bias. First is to comprehend the systematic errors that can occur while making decisions. Second, decide whether behavioral factors are the main causes of poor decisions. Third, identify the specific primary causes. Fourth, restructure the entire process to alleviate the biases and fifth, assess the solutions thoroughly (Hbr.org, 2018). Applying theses strategies can largely help organizations overcome biases while making decisions. Helfat and Peteraf (2015) are of the view that managers must possess the cognitive capacity to make decisions by sensing, seizing and reconfiguring the potential impact of change on organizations. A comprehensive study and research on the methods and strategies of decision-making can greatly help individuals overcome biases in decision-making in the future. This would in turn assist managers and leaders to make improved decisions that involve thorough analysis of all the factors of the surrounding. It is however important to mention that decisions will be biased no matter how careful individuals are while making those. It is because individuals do not possess the capability to be perfectly rational. It can be observed that the later decisions taken by the VW Company were the reflections of the outcomes of the previous decisions (Aurand et al., 2017). The culture of silence that was prevalent in the company and that nobody confessed about was brought to the fore by the new CEO, Matthias Mueller. Conclusion In view of the discussion above, it is imperative to state that Herbert Simons take on biases that affect decision-making process is concrete and can be applied to any situation. His rejection of perfect rationality was not accepted initially by many theorists, as they believed it to be unscientific. However, Simons bounded rationality principle did create ripples in the academic world concerning economics. The above report argues in favor of Simons concepts and principles while evaluating his statement on bounded rationality. In the report, focus has also been put on the three specific concepts namely availability, bounded awareness rationality and representativeness that explain bias in decision-making. Two real world scenarios Volkswagen diesel scandal and Motorolas product launch failure have been discussed to explain biases. Methods to measure bias have also been mentioned in the report. In addition, the report highlights the strategies that may help individuals overcome bias in future. References Aczel, B., Bago, B., Szollosi, A., Foldes, A., Lukacs, B. (2015). Measuring individual differences in decision biases: Methodological considerations.Frontiers in psychology,6, 1770. Albrecht, D. J. (2015). Product Standardization and Product Design Modularity: A Case Study of Motorola and the Mobile Handset Market.Browser Download This Paper. Aurand, T. W., Finley, W., Krishnan, V., Sullivan, U. Y., Bowen, J., Rackauskas, M., ... Willkomm, J. (2017). 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