In the Classical Model of Decision Making, Managers

question 32

Multiple Choice

In the classical model of decision making, managers

• A)create heuristics to simplify the process.
• B)identify and evaluate all possible alternatives before choosing a course of action.
• C)apply representativeness bias to identify alternatives.
• D)use intuition to select the most satisfactory solution.
• E)use satisficing to select the optimum solution.

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Definitions:

Free Flow

The unimpeded movement or exchange of information, resources, or goods in an environment without restrictive regulations.

South African Development Community

A regional organization aimed at promoting economic growth, peace, and security among its member states in Southern Africa.

Economic Development

The process by which a nation improves the economic, political, and social well-being of its people.

Southern Africa

A region in the southern part of the African continent, often including countries like South Africa, Namibia, Botswana, Zimbabwe, and Lesotho.