Decision Making Models Rational – Consider all information – Objective assessment Bounded...
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Decision Making Models Decision Making Models Rational – Consider all information – Objective assessment Bounded rationality model – Inadequate information – Limited search, satisficing Political – Pursue self-interests
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Transcript of Decision Making Models Rational – Consider all information – Objective assessment Bounded...
Decision Making ModelsDecision Making Models
Rational– Consider all information– Objective assessment
Bounded rationality model– Inadequate information– Limited search, satisficing
Political– Pursue self-interests
Steps in the Decision-Making Steps in the Decision-Making Process: The Classical ViewProcess: The Classical ViewOpportunity or Problem Situation
Opportunity or Problem Recognition
Opportunity or Problem Definition
Generate Alternatives
Gather Information
Evaluate, then Select One Alternative
Implement Selected Alternative
Evaluate Effectiveness
Steps in the Decision-Making Steps in the Decision-Making Process: The Administrative ViewProcess: The Administrative View
Opportunity or Problem Situation
Opportunity or Problem Recognition
Criteria for Satisficing Alternative
Evaluate Alternatives as Available
Select First Acceptable Alternative
Implement Selected Alternative
Evaluate Effectiveness
Copyright © 2000 by Harcourt, Inc. All rights reserved.
Obstacles to Effective Obstacles to Effective Decision-MakingDecision-Making
Four most common obstacles:– Judgmental biases– Escalation of commitment– Groupthink– Willingness of groups to take risks
