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Decision Making (Methods of managerial decision-making (Rationality (Three…

- - - - Problem is clear
      - Single, well-defined goal is to be achieved
      - All alternatives and consequences are known
  - - - Previous experiences
      - "gut-level" feeling
      - Accumulated Judgement
    - - Easy & doesn't require data
      - Subconscious can be effective at weighing options
    - - Typically the least accurate
      - Decision makers easily swayed by context
- - - - More efficient
      - No pressure to conform
    - - Less point of views/alternative options
      - Could cause internal problems
  - - - Greater availability of alternatives
      - Increased legitimacy
      - Increased acceptance of the solution
    - - Takes more time
      - Peer pressure
      - Minority domination