Management Decision Making Models

The video tutorial covers four primary decision making models: rational, bounded rationality, intuitive, and creative. The rational model involves a linear process of identifying problems, evaluating criteria, and implementing solutions. Bounded rationality acknowledges limitations in information processing, leading to decisions that are 'good enough.' The intuitive model relies on gut feelings rather than conscious reasoning. The creative model challenges norms by developing novel solutions through immersion and incubation. Each model has unique characteristics and applications in management decision making.

What is the first step in the rational decision making model?

How does bounded rationality affect decision making?

Describe the intuitive decision making model.

What are the steps involved in the creative decision making model?

What is the significance of monitoring results in decision making?