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Managing information & decision making - Coggle Diagram
Managing information & decision making
Problems & decisions
Well structured
Un-structured
Arriving decisions
Bounded rationality
essential features
Intuition
Previous experience
Gut-level feeling
Accumulated judgement
Rationality
Consistent and value-maximising choices
clear and unambiguous
single and well-defined goal
Clear, constant and stable preferences
exist no time or cost constrains
final choice will maximise payoff
Conditions
Certainty
Risk
Uncertainty
Group decision making
Flexibility
Creative
Communication
Styles
Linear
rational, logical thinking
Non-linear
internal insights, feelings