Briefly describe the assumptions underlying the classical model of decision making.
What will be an ideal response?
The decision maker operates to accomplish goals that are known and agreed on. Problems are precisely formulated and defined.The decision maker strives for conditions of certainty and tries to gather complete information. All alternatives and the potential results of each are calculated.Criteria for evaluating the alternatives are known. The decision maker selects the alternative that will maximize the economic return to the organization.The decision maker is rational and uses logic to assign values, order preferences, evaluate alternatives, and make the decision that will maximize the attainment of organizational goals.
You might also like to view...
Trading securities are valued on the balance sheet at market value
Indicate whether the statement is true or false
Employers want employees who can write messages appropriately they also want employees who can speak effectively with others is an example of a well-written sentence
Indicate whether the statement is true or false
A large business cannot be operated as a sole proprietorship
Indicate whether the statement is true or false
Terrorism is included in the workplace emergencies for which companies must have an emergency action plan.
Answer the following statement true (T) or false (F)