March and Simon Developed Three Important Concepts in Their Administrative

question 80

Essay

March and Simon developed three important concepts in their administrative model of decision making. Discuss these three concepts.

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Definitions:

Venezuela

A country located in South America, known for its significant oil reserves, diverse environments, and recent political and economic challenges.

Trade-off

The compromise between two conflicting desires or choices, where achieving more of one thing requires giving up something else in return.

Peanuts

Often used informally to refer to a very small or insignificant amount of money.

Cashews

A type of nut known for its rich flavor and health benefits, often used in cooking and snacking.