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What is rational decision making?Rational decision making is the opposite of intuitive decision making. It is a strict procedure utilising objective knowledge and logic. It involves identifying the problem to solve, gathering facts, identifying options and outcomes, analysing them, considering all the relationships and selecting the decision.
Is knowingly accepting less than the best possible outcome?suboptimizing Knowingly accepting less than the best possible outcome to avoid unintended negative effects on other aspects of the organization.
Which of the following is the last step in the rational decision making process?The last step in the rational decision-making process is to select the best alternative, or choose the best decision.
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Suboptimizing involves selecting the first acceptable solution that meets minimal requirements.
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