List the factors that influence managers’ decision-making processes in an organization, in situations where the assumptions of perfect rationality do not apply.
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List the factors that influence managers’ decision-making processes in an organization, in situations where the assumptions of perfect rationality do not apply.
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- What are the limitations and criticisms of decision theory as a framework for decision- making? Are there alternative theories or approaches that address these limitations?Compare the ideal, rational model of decision making to the political model of decision making.How can organizations effectively apply decision theory principles to enhance their decision-making processes and improve overall management outcomes?
- Discuss the different roles played by the qualititative and quantitiative approaches to managrial decision making. Why it is important for a manager or decision maker to have a good understanding of both of these approaches to decision making?What principles form the basis of the rational decision-making model and what are its major dimensions? What is the difference between that and the bounded rational approach to decision-making.how can decision-making be improved by the use of group decision-making techniques?
- Differentiate between extensive decision making and Limited decision making ? Give an example of each?How business decision-making provides the process of identifying, analyzing, and selecting among alternative courses of action to achieve organizational objectives? What is individual and group decision processes and how do they impede business decision-making?Identify and discuss the steps in rational decision-making process. Identify and discuss the types and sources of conflict.