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Decision Making Approaches
General Framework
Outline the meaning of Rationality, Bounded Rationality and Intuitive approaches to decision making.
Individual Components
1. Demonstrate a specific example of Rationality using Decision Trees
2. Demonstrate a specific example of Rationality using either a Payoff Matrix or Multivariate Analysis
3. Find and describe an example of an Intuitive approach to decision making
Analyze the different types of strategies discussed in previous section to determine which type of strategy is the most difficult for most organizations to implement. Provide speci
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Secondary data are the facts and figures that are newly collected for the project at hand. facts and figures obtained by watching people mechanically rather than in person.
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