Question: List and briefly describe Simon s four phases of decision
List and briefly describe Simon’s four phases of decision making.
Answer to relevant QuestionsWhat are the impacts of the Web on the phases of decision making?Why do people exhibit bounded rationality when problem solving?How can sensitivity analysis help in the choice phase?Define efficiency and effectiveness, and compare and contrast the two.Efficiency refers to the proper utilization of resources, doing things right. Effectiveness refers to the attainment of goals, doing the right things.What are some of the measures of effectiveness in a toy manufacturing plant, a restaurant, an educational institution, and the U.S. Congress?
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