Most managerial decision making can be accounted for by one of three models: the classical model, the administrative model, and the political model.

Question

Quizplus · Accepted Answer

This statement is true. The classical model assumes that decision makers are rational and objective, while the administrative model recognizes that decision makers may be bounded by limitations such as time and information. The political model acknowledges that decision making involves bargaining and negotiation among various stakeholders with differing preferences and values. Together, these three models cover the majority of managerial decision making.

Most Managerial Decision Making Can Be Accounted for by One