What Is Programmed And Non-programmed Decision Making?
Programmed decision making is a repetitive decision that can be handled by a routine approach and is not new. In this decision making process you have set procedure, rules and policies to follow. Where as, In Non-programmed decision making: It is a unique decision that needs a custom made solution. In this you mostly deals with unstructured problem which are new or unusual and for which information is incomplete. Rational decision making: Describe the choices that are consistent and value-maximizing with in specified constraints. Whereas, bounded rationality is a decision making behavior that is rational, but limited/bounded by an individual’s ability to process information.
