Perception, Decision Making and Problem Solving - The Rational Decision-Making Model
4 important questions on Perception, Decision Making and Problem Solving - The Rational Decision-Making Model
What is the Rational Decision Making model?
(2) Information Search and Analysis
(3) Generate Alternatives
(4) Evaluate Alternatives
(5) Make Decision
(6) Develop Action Plans
What are the limitations of the Rational Decision Making Model?
(2) Some managers only consider a few alternatives rather than a broad set of possible outcomes.
(3) Decisions are sometimes made without complete information due to the lack of availability of information relevant to the problem or time pressure.
What is bounded rationality?
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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When does a person satisfice?
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
