Question

In: Operations Management

There are advantages and disadvantages to both decision making models. First, explore three disadvantages of using...

There are advantages and disadvantages to both decision making models. First, explore three disadvantages of using the administrative model of behavioral decision making.( one paragraph)

Solutions

Expert Solution

Administrative model of behavioral decision making involves people taking decisions based on their instincts and perceptions and being rational in their decisions which means having alternatives planned for a course of action. But the main disadvantage with this type of decision making is that human perceptions depend on the environment surrounding them and will be changing with time and hence the decision might not be accurate. Also this model requires rational thinking which only comes with good experience which might be the case of many managers. Rational decisions will have some risks hidden and if these risks are not properly prepared and predicted , the project might fail. These three disadvantages might hinder the process and hence must be used very carefully.


Related Solutions

Pharmacoeconomics Question: Explain the advantages and disadvantages of using modelling for clinical decision making. in pharmacoeconomics
Pharmacoeconomics Question: Explain the advantages and disadvantages of using modelling for clinical decision making. in pharmacoeconomics
Discuss the advantages and disadvantages to using computer technology for managerial decision-making. Identify and discuss one...
Discuss the advantages and disadvantages to using computer technology for managerial decision-making. Identify and discuss one decision, personal or professional, you have utilized technology for forming your decision and why.
Summarize three advantages and three disadvantages of using radio advertising and three advantages and three disadvantages...
Summarize three advantages and three disadvantages of using radio advertising and three advantages and three disadvantages of advertising on TV. Present three recommendations that you would make to an entrepreneur who is interested in considering TV or radio to advertise a product or service.
What are advantages of AAA decision making model over Hartman, Longstaff, and Baird decision making models?
What are advantages of AAA decision making model over Hartman, Longstaff, and Baird decision making models?
explain the decision making models
explain the decision making models
understanding costs, what are advantages and disadvantages of break-even analysis in themanagerial decision making?
understanding costs, what are advantages and disadvantages of break-even analysis in themanagerial decision making?
explain three advantages and three disadvantages of using composite materials with examples.
explain three advantages and three disadvantages of using composite materials with examples.
a) Compare the advantages and disadvantages of using an assemble-to-order process to the advantages and disadvantages...
a) Compare the advantages and disadvantages of using an assemble-to-order process to the advantages and disadvantages of a make-to-order process for a fast food hamburger restaurant. b) Henry Smith, the manager of the local branch of the state Department of Motor Vehicles, is attempting to analyze the driver’s license renewal operation. He has completed the data collection and has the following information. State Automobile License-Renewals Process Times Step Average Time to Perform (seconds) 1. Review renewal application for correctness 15...
Compare and contrast the three foreign policy decision-making models. How are they similar? How are they...
Compare and contrast the three foreign policy decision-making models. How are they similar? How are they different? What are the consequences of these differences and similarities for policy decisions and outcomes? Which model do you think is most effective and why? (Rational model, organizational process model, and government bargaining model)
Decision Making Part A A tire manufacturer has three different models that it sells. The anticipated...
Decision Making Part A A tire manufacturer has three different models that it sells. The anticipated payoff is dependent on the type sold and the level of demand. Scenarios Alternatives Low demand Medium demand High demand All season $230,780 $365,000 $170,000 All terrain $219,685 $425,000 $400,000 Winter $-240,693 $238,000 $790,000 Probability 0.35 0.40 0.25 What is the EMV for the all season tires? (Round to a whole number) Part B  (***NEW NUMBERS from previous question***) A tire manufacturer has three different...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT