Explain the steps and limits to rational decision making.
Question:
Explain the steps and limits to rational decision making.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 87% (8 reviews)
Rational decision making is a sixstep process in which managers define problems evaluate alternatives and compute optimal solutions The first step is identifying and defining the problem Problems exist where there is a gap between desired and existing states Managers wont begin the decisionmaking process unless they are aware of the gap motivated to reduce it and possess the necessary resources to fix it The second step is defining the decision criteria that are used to judge alternatives In Step 3 an absolute or relative comparison process is used to rate the importance of the decision criteria Step 4 involves generating as many alternative ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Describe the three limits to rational decision making identified in this chapter.
-
Steps and Limits to Rational Decision Making Managers make decisions every day. Decision making is the process of choosing a solution from available alternatives. Rational decision making is a...
-
Explain how the rational decision making process was applied to solve a problem at Southwest Airlines.
-
Using the table of implied volatilities below ("volatility surface"), calculate the implied volatility a trader would use for pricing an 8-month option with K/S0 = 1.04. Hint: Interpolate linearly. 1...
-
What are the key principles of goal-setting theory, self-efficacy theory, and reinforcement theory?
-
a) Predict the mean head circumference of children who are 25.75 inches tall. (b) Construct a 95% confidence interval for the mean head circumference of children who are 25.75 inches tall. (c)...
-
Repeated Discounts. In this exercise, we explore applying more than one discount to an item. Suppose a store cuts the price on an item by \(50 \%\), and then offers a coupon for \(25 \%\) off any...
-
Mendosa Company closes its books monthly. On September 30, selected ledger account balances are: Notes Receivable.. $33,000 Interest Receivable... 170 Notes Receivable include the following. Interest...
-
Could someone please verify? You need to accumulate $10,000. To do so, you plan to make deposits of $1,200 per year - with the first payment being made a year from today - into a bank account that...
-
What role did Tycos corporate culture play in the scandal? On September 12, 2002, national television showcased Tyco Internationals former chief executive officer (CEO) L. Dennis Kozlowski and former...
-
Discuss the benefits and pitfalls of planning.
-
What are the U.S. Sentencing Commission Guidelines? How do they punish unethical behavior?
-
Write an application that displays the factorial for every integer value from 1 to 10. A factorial of a number is the product of that number multiplied by each positive integer lower than it. For...
-
Consider an atom diffuses in a 3 D simple cubic lattice by a random walk mechanism. The atom jumps 6 x 1 0 - 5 times per second at 3 0 0 K and 3 x 1 0 4 times per second at 6 0 0 K . Assuming that...
-
Projectile Motion Practice Questions 1. Tom the cat is chasing Jerry the mouse across a table surface 1.5 m high. Jerry steps out of the way at the last second, and Tom slides off the edge of the...
-
1- Explain aggressive mechanisms to manage interpersonal conflicts. 2-Differentiate between distributive bargaining and integrative negotiation as conflict management techniques. 3-Explain Glasl's...
-
(a) Find your average speed if you go 10 m/s for 100 s and then 20 m/s for 100 s. (b) Find your average speed if you go 10 m/s for 1,000 m and then 20 m/s for 1,000 m. (c) Why are your answers...
-
Assume that a vector field is given as; A = (y+z)x + (y + 2z)y. Verify Stokes' theorem for the geometry as shown in the below figure. $^-a S[ A dl= s (Vx A) dS (Stokes' theorem) Surface S 1 L 0 Z z =...
-
Afton Self Storage purchased land, paying $150,000 cash as a down payment and signing a $150,000 note payable for the balance. Afton also had to pay delinquent property tax of $2,000, title insurance...
-
Hardin Services Co. experienced the following events in 2016: 1. Provided services on account. 2. Collected cash for accounts receivable. 3. Attempted to collect an account and, when unsuccessful,...
-
How do companies use plans at all levels of management?
-
Describe the steps in rational decision making.
-
What are decision criteria and how are they used in decision making?
-
Choose the authority bases that are most congruent with a teacher-directed theory of influence. Oreferent/expert O expert/legitimate Olegitimate/reward Oreward/referent
-
Duties of a principal to an agent include all except the duty to: Oshare financial benefits of the agency. O indemnify the agent for losses suffered while acting legally as directed by the principal....
-
In its earliest years, commercial radio often played A Live performances of music B Pre-recorded performances of music C Canned performances of music D) Composers writing music down in real time
Study smarter with the SolutionInn App