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Any decision involves a choice selected from a number of alternatives, directed toward an organizational goal or subgoal. Realistic options will have real consequences consisting of personnel actions or connections modified by environmental facts and values. In practice, some of the alternatives may be conscious or unconscious; some of the consequences may be unintended as well as intended; and some of the means and ends may be imperfectly differentiated, incompletely related, or poorly detailed.
The task of rational decision making is to select the alternative that results in the more preferred set of all the possible consequences. This task can be divided into three required steps:
- the identification and listing of all the alternatives;
- the determination of all the consequences resulting from each of the alternatives; and
- the comparison of the accuracy and efficiency of each of these sets of consequences.
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Explain Herbert Simon model for decision making?
shailesh chechare
What is the administrative model of decision making?
James March and Herbert Simon
What is Herbert Simon's decision making model?
go to http://dieoff.org/page163.htm
What is the Herbert Simon's model of MIS?
herbert simon's model is a MIS tool of making optimal choices which consist of three stages 1. Data gathering 2. Design model 3. making choice
What is a decision making model?
Decision Making is a basic function of manager, economics is a valuable guide to the manager. There are basically two major models of decision-making - the classical model and the administrative model. The classical model of decision making is a prescriptive approach that outlines how managers should make decision. Also called the rational model, the classical model is based on economic assumptions and asserts that managers are logical, rational individuals who make decision that are in the best interest of the organization. The Administrative model of decision making is a descriptive approach that outlines how managers actually do make decisions. Also called the organizational, neoclassical, or behavioral model, the administrative model is based on the work of economist Herbert A.
What is a making model?
Decision Making is a basic function of manager, economics is a valuable guide to the manager. There are basically two major models of decision-making - the classical model and the administrative model. The classical model of decision making is a prescriptive approach that outlines how managers should make decision. Also called the rational model, the classical model is based on economic assumptions and asserts that managers are logical, rational individuals who make decision that are in the best interest of the organization. The Administrative model of decision making is a descriptive approach that outlines how managers actually do make decisions. Also called the organizational, neoclassical, or behavioral model, the administrative model is based on the work of economist Herbert A.
March and Simon developed three important concepts in their administrative model of decision making. What are the 3 concepts?
Rational, Bounded Rationality, and Intuition
What is incremental decision making model?
it is the combinatin of the rational comprehensive and the incremental decision making models.
Compare and contrast classical and administrative models of decision making?
classical model of decision making involves more thinking and reasoning administrative model of decision making involves more intuition and feelings
What is Two major models of decision-making?
the major model of decision making that assumes the decision maker will be rational, systematic, and logical in assessing each alternative is rational economic model.
Advantages and limitations of linear programming as a managerial decision making model?
It takes out the personal angle in decision making.
What is the second step in decision making model?
Analysis
