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POLC, information and decision-making (Rationality (assumes: (the problem…
POLC, information and decision-making
Rationality
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assumes:
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a single, well-defined goal is to be achieved
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Bound Rationality
decisions made within the parameters of a simplified model that captures the essential features of a problem
bounded by the limitations and constraints, managers attempt to behave rationally
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Decision-making styles
Non-linear
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process information through internal insights, feelings, and hunches
Linear
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process information through rational, logical thinking