Archive | June 13, 2016
Simon’s Concept of Decision – Making

Herbert A. Simon propounded the bounded rationality model to explain why limits exist to rational decision within decision – making environment. He defined decision – making as “the alternative courses of action”. He states that, decision – making pervades the entire organization that is decisions are made at all level of organizations. Hence, he said an organization as structure of decision – makers. According to him, decision is an all – embracing activity subsuming all the administrative functions described as ‘POCCC’ by Fayol and ‘POSDCORB’ by Gullick.
News for June 13, 2016
Important News from The Hindu:
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The hidden cities of Angkor Wat
[Important for: Archaelogy]
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Petition in NGT against unauthorised excavations under Jalyukta Shivar
[Important for: Environment & Ecology, NGT]
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State-owned banks widen reach quicker than private lenders
[Important for: Economy]
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SEBI to relax REIT, portfolio manager norms to woo investors
[Important for: Economy]
Read More…