Pure rationality and limited rationality share a common perspective, seeing decisions as based on evaluation of alternatives in terms of their conseq… - James G. March

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Pure rationality and limited rationality share a common perspective, seeing decisions as based on evaluation of alternatives in terms of their consequences for preferences. This logic of consequences can be contrasted with a logic of appropriateness by which actions are matched to situations by means of rules organized into identities.

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About James G. March

James Gardner March (January 15, 1928 – September 27, 2018) was an American business theorist and professor emeritus in management, sociology, political science, and education at Stanford University. Widely recognized as a pioneer of organization and management theory, March coauthored the classic books Organizations (1958) and A Behavioral Theory of the Firm (1959).

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Birth Name: James Gardner March
Alternative Names: James March
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… we sometimes find that such heresies have been the foundation for bold and necessary change, but heresy is usually just crazy. Most daring new ideas are foolish or dangerous and appropriately rejected or ignored. So while it may be true that great geniuses are usually heretics, heretics are rarely great geniuses.

Social, political and economic institutions have become larger, considerably more complex and resourceful, and prima facie more important to collective life. Many of the major actors in modern economic and political systems are formal organizations, and the institutions of law and bureaucracy occupy a dominant role in contemporary life.

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If a manager asks an academic consultant what to do and that consultant answers, then the consultant should be fired. No academic has the experience to know the context of a managerial problem well enough to give specific advice about a specific situation.

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