Explain the three principles that form the basis of the bounded rationality model of decision making,and describe how that model relates to the everyday process of decision making by employees and leaders.Give an example of how a leader might make a suboptimal decision as a result of operating according to this model.Explain how an understanding of the model and its recommendations might have helped that leader to make a more effective decision under the same circumstances.

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The Answer of Explain the three principles that form the basis of the bounded rationality model of decision making,and describe how that model relates to the everyday process of decision making by employees and leaders.Give an example of how a leader might make a suboptimal decision as a result of operating according to this model.Explain how an understanding of the model and its recommendations might have helped that leader to make a more effective decision under the same circumstances.

Explain the Three Principles That Form the Basis of the Bounded