Rational Decision Making Case Study:
Rational decision making is a gradual process which is based on the logical evaluation of the problem and the creation of the steps required to reach the desired goal. Rational decision making is important in every sphere of human life, because without the appropriate planning of the activity it is impossible to reach success. The process of rational decision making starts from the setting of the goals. Speaking about business, the businessman wants to improve his company effectively and creates a detailed and logical plan of the actions which should be applied in this process.
Of course, before the presentation of the final plan one should collect information and learn about the alternative ways of the improvement, so to pay attention to numerous decisions and their possible results. One should define the pluses and minuses of every alternative in order to avoid possible misunderstandings and unpredicted situations.
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When the analysis of the pros and cons is made one can make a decision and try to embody the idea into reality. Evidently, it is not easy to organize the process of decision making rationally, because the problems are often so complicated that one requires much time to brainstorm the appropriate solution which will bring him benefit and reduce cost, which is the most important purpose of every change, because everyone wants to increase profit and minimize possible expenditures on the production or the activity of the company.
The question of rational decision making is the core one in the activity of every company, because it defines the success of the firm and the speed of its development. The ability to make the right rational decisions improves the condition of the company and increases its profit and reduces the cost of production. A good rational decision making case study is supposed to explain the meaning of the term and define its core elements. The student should collect information about the case, evaluate the success of the rational decision making, learn about the cause and effect of the suggested problem and try to present a good solution to the problem. One should demonstrate his knowledge and critical thinking skills in order to succeed in the creation of the alternative rational decision for the case.
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