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Was Srinivas rational in making the decision to takeover the pharmaceutical business?
To determine if Srinivas was rational in taking over the pharmaceutical business, one would need to consider various factors such as his motivations, the financial health of the company, market conditions, and his expertise in the industry. If he had a clear strategic plan, understood the risks involved, and believed in the potential for growth and profitability, then his decision could be deemed rational. However, if he acted impulsively or without sufficient information, it might not have been a sound choice. Ultimately, the rationality of his decision hinges on the context and information available to him at the time.
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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.
How do the decision of the financial manager influence the production function of a firm?
being a rational decision maker
What is the first step in the rational decision making model?
The first step in the rational decision-making model is to identify the problem or opportunity that requires a decision. This involves recognizing the issue at hand, understanding its significance, and determining the need for a solution. Clearly defining the problem sets the foundation for the subsequent steps in the decision-making process.
How is individual decision making an irrational process?
Inevitably irrational, since no individual can have all the information necessary to make a totally rational decision.
3. Explain briefly various models of decision making process?
The rational model of decision making provides a four step sequence. The normative model includes limited information processes, shortcuts used to simplify decision making. and settling for "what works".
Was srinivas rational in making the decision to takeover the pharmaceutical business explain?
Srinivas's decision to take over the pharmaceutical business can be considered rational if it aligns with his analysis of market opportunities, financial viability, and his personal or professional goals. If he conducted thorough research, assessed risks, and identified potential for growth, his choice would be justified. However, without knowing the specifics of the market conditions or his motivations, it’s difficult to definitively label his decision as rational or irrational. Ultimately, the soundness of his decision hinges on the data and reasoning he employed in the process.
2 Explain any two models of decision-making process Which model best characterizes your organizations or an organization you are familiar with decision process cite examples to justify your answer?
The two methods are rational model and non-rational models. Rational models requires managers to use a four-stage sequence in making decisions. Non-rational models try to focus on how decisions should be made. Pharmaceutical companies preferÊnon -rational models because they assume that decision making is uncertain.
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.
Non rational model of decision making?
Non rational refers to the limitations of knowledge , information
What is incremental decision making?
it is the combinatin of the rational comprehensive and the incremental decision making models.
Marginal analysis in decision making?
Rational choice
What are the three styles of decision making?
impulsive and rational
What is a sentence using rational?
I have several sentences for you.Use your rational mind to solve that problem.He is always rational and sensible.She made the rational decision and put the lottery money into the bank.
What is incremental decision making model?
it is the combinatin of the rational comprehensive and the incremental decision making models.
How do the decision of the financial manager influence the production function of a firm?
being a rational decision maker
What is rational knowledge based on?
Rational knowledge is based on both experience and cognition. A rational person takes all relevant information into consideration when making a decision.
What aspects of your decision making process fit the description of a rational choice?
There are many aspects of the decision making process that fit the description of a rational choice. One aspect is the ability to see the usefulness of it.
