regulatoryBody NABARD Grade A Prelims Mock Test 2024 Management Concepts of Management Decision Making
Which of the following best describes the "Rational Decision-Making Model"?
1
It focuses on maximizing the utility by evaluating all possible alternatives.
2
It prioritizes intuition and experience over data and analysis.
3
It emphasizes decision-making in a chaotic environment with unclear goals.
4
It relies on satisficing rather than optimizing due to cognitive limitations.
5
It is predominantly used in decisions requiring moral and ethical considerations.