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Decision Making

You have just concluded your initial meeting with Axel Polwalski, CEO of Polwalski Manufacturing Group and Tammy Chapman-Richards, EVP of Operations, Chapman Brothers. Axel was particularly impressed with your comments on rational decision making, although Tammy seemed unconvinced. Axel Polwalski has asked you to prepare a written report that he plans to present to his executive board of directors. This report should outline the steps in bounded rationality and rational decision making.

Please write a short report that is 500 to 700 words for Axel and the board of directors at Polwalski Manufacturing Group. Discuss an outline of the steps in bounded rationality and rational decision-making. Include a cover page and reference your sources in APA format.

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The response addresses the queries posted in 813 words with references.

//The rational decision making is regarded to be an effective instrument for an organization for reaching a desirable discretion and in this way, it helps the firm to overcome the hurdle in the path of decision making of the company. Before starting a paper like this, it is essential to highlight the concept by providing an introduction of this concept.//

The Rational Decision Making Model is that model that involves the cognitive process in which each one step is complied in a reasonable order. The term cognitive interprets that the concept is based on judgment through and counting up the options to turn up with the best probable effect or the outcome. There are various types of the rational models and the steps involved in it are different on the basis of the nature of the models. In the view of various people, the decision making is equivalent to that of the thought process. The Bounded Rationality is also one of the components of the rational decision-making procedure (Geva & Mintz, 1997).

//The next part, that is the Bounded Rationality, is regarded to be the concept that is grounded upon the verity and the truth. The part involves the introduction of the concept and the other relevant issues.//

The Bounded Rationality is regarded to be the ...

Solution Summary

The response addresses the queries posted in 813 words with references.