The Six-Step Rational Decision-Making Model 1. Define the problem. 2. Identify conclusiveness criteria 3. power point the criteria 4. show elections 5. count separately alternative on severally(prenominal) criterion 6. consider the optimal finality Identify purpose criteria Once a finish maker has defined the problem, he needs to identify the finality criteria that will be metre in solving the problem. In this step, the ratiocination maker is determine whats relevant in making the decision. This step brings the decision makers interests, values, and individual(prenominal) preferences into the process. Identifying criteria is important because what one person thinks is relevant, other may not. Weight the criteria The decision-maker weights the previously identified criteria in society to give them recompense priority in the decision. Generate alternatives The decision maker generates feasible alternatives that could succ eed in resolving the problem. Rate each alternative on each criterion The decision maker must critically analyze and evaluate each one. The strengths and weakness of each alternative. figure the optimal decision Evaluating each alternative against the weighted criteria and selecting the alternative with the highest broad(a) score. Bounded Rationality when a staff considered which college to attend, they will not locution every viable alternative nor identify all the criteria that were important in decision. quite of optimizing, staff probably satisfied. When face up with a complex problem, most multitude respond by diminution the problem to a level at which it coffin shoot readily understand. The limited information-processing capability of piece beings makes it impossible to engulf and understand all the information necessary to optimize. So multitude satisfied; that is, they seek solutions that are satisfactory and sufficient. Because the capacity of the forgiving mind for formulating and sol! ving complex problems is far too nice to meet the...If you want to get a full essay, do it on our website: OrderCustomPaper.com
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