Top 5 Models of Managerial Decision Making

This article throws light upon the top five models of managerial decision-making. The models are: 1. Rational Model 2. Non-Rational Models 3. Satisficing Model 4. Incremental Model 5. Garbage-Can Model. Model # 1. Rational Model: The rational model of managerial decision-making has its roots in the economic theory of the firm. When theories about the economic behavior of business firms [...]