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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
Classical model of decision making?
Classical models of decision making involve highlighting rational awareness and a clear vision on the outcome of the decision. Classical models of decision making are not usually complex and are typically the safest course in making decisions.
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.
In the classical model of decision-making the most appropriate decision given the likely future consequences to the organization is known as?
Optimum
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
Classical model of decision making?
Classical models of decision making involve highlighting rational awareness and a clear vision on the outcome of the decision. Classical models of decision making are not usually complex and are typically the safest course in making decisions.
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.
What are the pros and cons of the classical decision making model?
One pro of the classical decision-making model is its logical and structured approach, helping to ensure thorough consideration of options. However, a con is its assumption of perfect information and rationality, which may not always reflect real-world complexities and limitations in decision-making.
In the classical model of decision-making the most appropriate decision given the likely future consequences to the organization is known as?
Optimum
What ate the assumptions that underlie the classical model of decision-making?
The classical model of decision-making is based on several key assumptions: first, it assumes that decision-makers have access to complete and perfect information, allowing them to evaluate all possible alternatives. Second, it presumes that individuals are rational and will always choose the option that maximizes utility or benefits. Third, the model assumes that preferences are consistent and can be ordered, meaning that decision-makers can rank their options clearly. Lastly, it suggests that the decision-making process is linear and systematic, leading to optimal outcomes.
What are the assumptions that underlie the classical model of decision-making and explain how this model would help to explain the behavior of a manager who was attempting to act consistently with thi?
The classical model of decision-making assumes that individuals are rational, have access to all information, evaluate all options, and choose the optimal solution. This model suggests that a manager, acting in a manner consistent with it, would thoroughly assess all available options, weigh the pros and cons logically, and select the best alternative based on objective criteria, maximizing utility or profit.
Briefly describe the assumptions underlying the classical model of decision making?
The classical model of decision making is based on several key assumptions: first, it presumes that decision-makers have access to all relevant information and can evaluate all alternatives objectively. Second, it assumes that individuals act rationally, seeking to maximize utility by selecting the option that best aligns with their goals. Additionally, it posits that preferences are stable and consistent, allowing for clear comparisons among alternatives. Lastly, the model assumes a clear and defined problem structure, enabling logical and systematic analysis.
What is incremental decision making model?
it is the combinatin of the rational comprehensive and the incremental decision making models.
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.
What are the advantages and isadvantages of classical model of decision making?
The classical model of decision-making offers advantages such as a structured approach that emphasizes rationality and logical analysis, enabling clear identification of problems and potential solutions. It also promotes efficiency by utilizing quantitative data to inform choices. However, its disadvantages include oversimplification of complex situations, potential neglect of emotional and social factors, and the assumption that decision-makers have complete information and can process it without bias, which is often unrealistic. Additionally, this model may not account for time constraints or the dynamic nature of real-world scenarios.
