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Introduction


According to Uzonwanne (2016), rational decision making model is completely opposite to that of the intuitive decision making. Also, it gets further stated that in the rational decision-making model, facts and information gets implemented by the individuals along with that of the relevant analysis, and a step-by-step procedure to finally arrive to a pertinent decision. Therefore, it could be easily realized that the rational model of decision making, without any doubt, should significantly considered as a more progressive form of decision-making model. Decision making is something that every individual does every day and all through their life, individuals tend to make decisions which either have positive result or on the other hand it might have a negative outcome for that particular individual. Thus, the outcome heavily depends on the choices or the decisions that are taken by the individuals in the course of action. Now, the main aim of this paper is to significantly comprehend that with the implementation of rational decision making, there would not be much issues in the quest of arriving to a correct decision. The same claim has been based on the observation that the notion of rational decision making is significantly technical and very much objective in their nature. Similar notions of comprehension will be presented in relevance to Singapore Telecommunication Company which is generally known as SingTel which again has been identified as the Singaporean telecom company. The discussion will be primarily focused on this particular organization. Also, it will help the readers with the comprehension of the ethical dimensions in connection with that of the managing organizations. This analysis will paint a clear picture while discussing the above-mentioned notions.
 

Generally, it could be seen that the individuals generally acting or determining rationally should surely have a distinct comprehension of all the relevant due to which the significant goals can be reached under existing circumstances along with that of the limitations. Apart from that, Evans & Prokopenko (2021) has confirmed that in this process, individuals need to possess the  relevant information and the aptitude to scrutinize and assess alternatives in the light of the objective set forth. Also, it gets significant important to understand the fact that based on all the alternatives that are already present in the place, the willingness to obtain the best solution needs to satisfy all the accomplishment of the goals. It also gets important to analyze the fact that based on the relevant psychological end, it could be realized that relying on the intelligence as well as the knowledge, all the average decision makers significantly have their very own soft emotions (Cascetta, Cartenì, Pagliara & Montanino, 2015). Therefore, this gets significantly important to understand that there are relevant cases in which based on ration decision making, most of the outcome gets significantly dependent on the step-by-step implementation.
 

Discussion


In the modern era of globalization, attaining the required competitive advantage and goals, which do not only mean increasing profits, have become imperative for each and every company. These goals are related to the attainment and maintenance of customers’, employees’, and shareholders’ satisfaction (Haines, 2019). Also, the social responsibility of business also involves ethics. All the individuals, be it in business or in the non-business activities, are highly concerned with the standardized behaviour- ethics in contemporary world. Moreover, for the companies to succeed in attaining these goals, it is very crucial to ensure that their business activities and actions are based on business politics and most importantly, the ethical principles. Ethical dimension to management is all about the moral norms and awareness in competition with the economy while being concerned for the production quality. However, it is to mention that the business ethics has a total of two dimensions- the collective ethics and individual ethics.
 

The collective ethics comprise of the ethical processes in the adoption and implementation of the business management decisions of the company. It refers to the external entities and environment as well as the ethical relationships within the company. The management of a firm is not only responsible for its own activities, but also for that of its employees (Painter-Morland et al., 2019). On the contrary, individual ethics included the basic principles of individual business ethics, ratio of interpersonal relations and norms of business ethics as well as the personal moral standards.
 

A company has its own set of values that are reflected in the form of collective values of the individuals joining it. As there are many organizational processes that are designed by the managers at high levels, the organizational values are in tune with the values of these managers. A person might subscribe those values while matching with his own values. Where the organizational values do not match with the individual values, he or she might either leave the company or might adjust himself to those values. Moreover, professional codes of conduct are a great source of ethical norms for the managers within companies (Sarwar et al., 2020). There are a total of three types of codes that are available in a company. Firstly, it is the company philosophies and creeds that basically cover the basic philosophies and behavior, which govern those business. Most of the firms have these sets. Second, is the code that can be found within the operational policies of a company and they set up guides to the actions, which have ethical content.
 

As per Abubakar, Elrehail, Alatailat & Elçi, (2019), Rationality might surely get demarcated as a very relevant ability along with the willingness to significantly track a coherent, impassive, and also at the same time a logical approach in observing the purposes in assessing the means in the lens of the objectives that significantly needs to be achieved. In alignment to this, various other studies have also highlighted the importance of rationality in the process of decision making in any given situation. Putting this into perspective, there are various principles which gets connected to the notion of bounded rationality that is crucial in the process of decision making. The very first principle states that, it Is significantly impossible to take any kind of decision based of the affect it has on the past. Therefore, it gets significantly important, to comprehend that all the decision should and must operate relying on the future and relevant observations in all the circumstances which tend to involve uncertainties.
 

The second principle clearly states that the ability of the human mind to observe, recollect and retrieve comprehensive knowledge and evidence regarding the past, present and future events is not at all unlimited in their nature. Apart from that, it has also been identified that information is neither voluntarily obtainable, also nor is it a free commodity. Also, it has been identified that the cost of information collection vis-a-vis depending on the consistency and significance is an imperative consideration (Wu & Xiao, 2022). However, multiple arguments have also created significant difficulty in order to recognize the alternatives which again will be followed so that the goal could be reached. The primary reason behind the same is that the alternatives that are being identified, it is nearly impossible to analyze and comprehend all the possible alternatives (León & Mu, 2021). Interestingly, even with the implementation of the latest analytical techniques and different tools like computers, it becomes very much difficult to even analyze and comprehend all the possible alternatives. Putting this into perspective form a psychological end, it could be realized that relying on the intelligence as well as the knowledge, all the average decision makers significantly have their very own soft emotions. Therefore, it is important to understand that an individual could never completely bring down or ignore all his or her subjective viewpoint based on the process of influencing all the decisions.
 

Now, it has also been identified that, post identification of the all the relevant criteria, it gets easier to understand that it will give weights to the same. The primary reason behind the same is that it gives crucial importance to the criteria in which gets crucial for the most important in their nature. Therefore, based on the above claim, it could be easily realized that with the implementation of the same the decision maker will become capable enough to realize the correct priority in relevance to the decision that has been made. Under certain circumstances this might be considered as significantly obvious, however, it gets extremely important to analyze the fact that is gets necessary to create perspective which again helps in deciding on the best alternative is not the same as doing something. Most importantly, it gets important to understand that the achievement itself is the first real. Also, it gets identified that it becomes tangible step in altering the situation. Last but not the least, it is significantly not enough to even think about it or even at times talk about it or even decide to do it. To put things into perspective, it could be seen that the decision only counts when it is implemented. All the other factors that have been implemented, significantly gets null and void and the final step remains relevant.  In the final step, the result is to be evaluated.
 

Based on the cases study of Singapore Telecommunication Company, it has already been concluded that the inspiration and the goal setting and achievement, all these three factors significantly have a very strong correlation. Apart from that, it has also been identified that both the factors are significantly dependent on one another and due to this exact dependency, that is present, it tends to enhance the performance of the individuals under every circumstances (Scott & Davis, 2015). This also enables the readers with the understanding that, possessing a significantly high level of motivation is consequently itself appreciated and also at the same time it is very much valuable for the staff members. Simultaneously, this also helps in decreasing the level of motivation which could significantly impact all the employees very much negatively. Relying on the above discussion, it could also be realized that this is the chief motive behind the fact that individuals should be able to comprehend the fact which again states the fact that motivation is the chief element which should significantly be implemented in the workplace. In relevance to this, it is important to comprehend that this will be effective for achieving the goals successfully.
 

Certain factors that need to be kept in mind while implementation of the rational decision-making process is that this process gets extensively included in the notion of leadership training, along with that of the conferences and the seminars. This specifically borders around the concept of sustainable development with the organizations and also at the same time of the government. According to Kelemen, Born & Ondráček (2020), it is very much important under problematic situation to significantly clarify the exact problem that needs to be analyzed. Without, proper understanding of the problem, it is significantly impossible to come to conclusion or even find any relevant solution to the same. To be precise, it also needs to be stated that this is very much similar when it comes in relevance to organizational aspect. More importantly, it has also been identified that the relevancy of the notion, is very much same when it comes to the organizational aspect. The step that has been taken in the Singapore Telecommunication company is that they have aligned the goals of the company to that of the goals of the employee. To be more specific, an analysis has been carried out in the entire process which again have helped in understanding the exact organizational need (Scott & Davis, 2015). As a matter of fact, it has also been realized that, it gets significantly important to talk about the goal which again will help in accurately predicting the outcome for each of the options that are available and based on that particular prediction, it is very much relevant that the final predictions get selected.
 

Depending on the observation, that has been made till now in this paper, it gets important to highlight the fact that it is very much equally important in relevance to that of the rational decision-making process is to significantly define the relevant with that of the solution scenario will look like at the end of the process. Thus, analyzing the same gets very much important based on the fact, all the other decision-making process does not enable to reach the optimum level of decision under any given circumstances (Abubakar, Elrehail, Alatailat & Elçi, 2019). However, this also depends on the leadership traits of the managers who are managing the team and if those individuals do not have a relevant characteristic, it gets significantly impossible for the company to even survive in the dynamic market. This also helps the readers with the understanding that, the social responsibility of business tends to significantly involve all the relevant ethics. Apart from that, it could also be realized that all the individuals, either it could be it in all the type of business or at the same time it could be in the non-business activities, all these aspects are highly concerned with that of the standardized behavior-ethics in that of the contemporary world.
 

Furthermore, it could be realized that it is generally needed to properly make sure that the solution that has already been presented, gets primarily implemented to make sure that the solution that has been reached is fail proof. The primary reason behind the same is that, all the systematically and also at the same time properly investigated fact-based decision will characteristically result into a solution which is effective as well as positive at the same time. Now, it also needs to be stated that there are certain hindrances, which could be identified in this process. Whereas on the other hand, it has also been identified that all this appears in relevance to that of the human inability to significantly accumulate adequate constituents of information (Calabretta, Gemser & Wijnberg, 2017). Most importantly, it gets important to highlight the fact, it is significantly unusual in relevance to that of the decision maker to back down. Also, it is very much important for them to significantly settle for the amount of material information at their very own disposal.
 

In the end, it could be state based on the discussion that has been presented which specifically states that rational decision making is a predominant and crucial factor in relevance to which the life stake and also at the same time the investor stake both are significantly high as compared to one another. Abundance of fact needs to be present in order to make decision which is relevant and could be identified as systematic (Maes & Faber, 2020). Without the presence of sufficient amount of information, regarding the issues that is at hand, first the total comprehension of the issue could not be done. In relevance to this, another observation could also be made. The fact that the information becomes important could be realized based on the same observation. Also at the same time, proper time needs to be allocated behind finding a solution, which again will help in the process of understanding the relevant challenges which gets comprehended.
 

Conclusion on Management Theory


To conclude, in relevance to the discussion that has been presented in the above, it needs to be stated that rational decision making could be demarcated as a more progressive type of decision-making model. The primary observation that has been made is that it significantly lays relevant prominence on that of the traits of thorough research and logical evaluation. Apart from that, it has also been identified that, choosing within the available choices depending on the various reason and facts. Also, it could be realized that the very basic notion of rational choice theory which again is preceded on the statement that increasing social behavior consequences from the comportment of discrete actors (Shrestha, Ben-Menahem & Von Krogh, 2019). It also needs to be stated that, all this relevant is enabling their separate decisions, gets properly highlighted.
 

Apart from that particular time, it could be seen that all the resources get involved in this scene. Now, it needs to be stated that all the relevant comparisons tend to comprehend the rational decision-making bids significantly more effective and functional solutions in relevance to that of the intuitive decision making. As a matter of fact, intuitive decision making could be easily demarcated as the most directly opposing decision-making model in comparison to rational decision making. Last but not the least, it could be easily realized that the implementation of rational decision making, there would not be much issues in the quest of arriving to a correct decision. It has also been realized that the same claim has been based on the observation that the notion of rational decision making is significantly technical and very much objective in their nature. The entire discussion that has been presented in this paper, has been done based on the reliable information that has been gathered. Therefore, it could be realized that this paper will prove to be very much useful for the readers who have been persuading studies in this area of research.
 

References


Abubakar, A. M., Elrehail, H., Alatailat, M. A., & Elçi, A. (2019). Knowledge management, decision-making style and organizational performance. Journal of Innovation & Knowledge, 4(2), 104-114. https://doi.org/10.1016/j.jik.2017.07.003
 
 
Calabretta, G., Gemser, G., & Wijnberg, N. M. (2017). The interplay between intuition and rationality in strategic decision making: A paradox perspective. Organization Studies, 38(3-4), 365-401. https://doi.org/10.1177/0170840616655483
 
 
Cascetta, E., Cartenì, A., Pagliara, F., & Montanino, M. (2015). A new look at planning and designing transportation systems: A decision-making model based on cognitive rationality, stakeholder engagement and quantitative methods. Transport policy, 38, 27-39. https://doi.org/10.1177/0170840616655483
 
 
Evans, B. P., & Prokopenko, M. (2021). A maximum entropy model of bounded rational decision-making with prior beliefs and market feedback. Entropy, 23(6), 669. https://doi.org/10.3390/e23060669
 
 
Haines, S. (2019). Managing expectations: articulating expertise in climate services for agriculture in Belize. Climatic Change, 157(1), 43-59. https://doi.org/10.1007/s10584-018-2357-1
 
 
Kelemen, P., Born, E., & Ondráček, T. (2020). Theorizing on the connection between organizational and individual mindfulness. Economic research-Ekonomska istraživanja, 33(1), 1813-1829. https://doi.org/10.1080/1331677X.2020.1761417
 
 
León, Y. L., & Mu, E. (2021). Organizational Mindfulness Assessment and Its Impact on Rational Decision Making. Mathematics, 9(16), 1851. https://doi.org/10.3390/math9161851
 
 
Maes, M. A., & Faber, M. H. (2020). Issues in utility modeling and rational decision making. In Reliability and Optimization of Structural Systems (pp. 95-104). CRC Press. https://www.taylorfrancis.com/chapters/edit/10.1201/9781003078876-12/issues-utility-modeling-rational-decision-making-maes-faber
 
 
Painter‐Morland, M., Kirk, S., Deslandes, G., & Tansley, C. (2019). Talent management: The good, the bad, and the possible. European Management Review, 16(1), 135-146. https://doi.org/10.1111/emre.12171
 
 
Sarwar, H., Ishaq, M. I., Amin, A., & Ahmed, R. (2020). Ethical leadership, work engagement, employees’ well-being, and performance: a cross-cultural comparison. Journal of Sustainable Tourism, 28(12), 2008-2026. https://doi.org/10.1080/09669582.2020.1788039
 
 
Scott, W. R., & Davis, G. F. (2015). Organizations and organizing: Rational, natural and open systems perspectives. Routledge.
 
 
Shrestha, Y. R., Ben-Menahem, S. M., & Von Krogh, G. (2019). Organizational decision-making structures in the age of artificial intelligence. California Management Review, 61(4), 66-83. https://doi.org/10.1177/0008125619862257
 
 
Uzonwanne, F. C. (2016). Rational model of decision making. Global encyclopedia of public administration, public policy, and governance. Springer International. https:/doi. org/10.1007/978-3-319-31816-5_2474-1. DOI 10.1007/978-3-319-31816-5_2474-1
 
 
Wu, X., & Xiao, H. (2022). A Boundedly Rational Decision-Making Model Based on Weakly Consistent Preference Relations. Symmetry, 14(5), 918. https://doi.org/10.3390/sym14050918
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