What is your opinion regarding the concept of rationality in management decision

Question

What is your opinion regarding the concept of rationality in management decisions making? Talking about rational model, What do you think is the biggest problem with this model when applied to real world situations?
What is your opinion regarding the concept of rationality in management decisions making? Talking about rational model, What do you think is the biggest problem with this model when applied to real world situations?
What is your opinion regarding the concept of rationality in management decisions making? Talking about rational model, What do you think is the biggest problem with this model when applied to real world situations?

Explanation / Answer

Rational Decision making: It is a method of systematically choosing among the possible selections completely backed by facts and reasons. It is usually verified with rational data analysis and facts all together speaking about the possible outcome. According to me this is the most effective way of decision making if the possible future event doesn’t behave randomly. We can see that this decision making uses past data and records to analyze and predict future thereby making decision.

Biggest problem while applying this model is validation of data used. Whether the data used is perfect in nature or is adulterated. For a particular decision how much time is spent in analyzing the data and the possible outcomes? The decision is also effected by one’s ability to perform analysis and using root cause analysis for the event. In most of the cases this decision making techniques go for optimal solution rather than maximizing profit and minimizing cost. It involves less risk so less profit.

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