Internal Code: MAS1673
Observation Review Assignment:
This observation review is comprised of three sections and requires you to address the following:
Heading One (word guide – 300 - 400)
Summarise a rational business decision made by an individual in a workplace that you have personally observed. In your summary, include clear details of the components of the decision making process (who, when, where, what, influences etc.) and also include the following:
1. What the outcome/s of the decision was/were
Note - If you have limited workplace experience, you may focus on a decision you have observed an individual make in another business orientated situation or a decision made by a friend or family member in a workplace
Heading Two (word guide – 500 - 600)
Using quality peer reviewed academic sources apply a decision making process model, OTHER THAN the 8 step decision making model from the course content, to the decision you described under Heading One. Using quality peer reviewed academic sources to support your argument, identify the steps that could be considered rational in part or full and critically evaluate how the steps in the decision process are rational, include any limitations of this
type of decision making process.
Heading Three (word guide – 500 - 600)
Rational decision making is a normative concept; however inevitably there are limitations to “perfection” in applied settings. Using quality peer reviewed academic sources to support your argument, critically evaluate aspects of your decision summary from Heading One/Two that COULD have been impacted by bounded rationality.