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Bounded Rationality and the Family Business Decision-Making Process

Bounded Rationality and the Family Business Decision-Making Process

Which family business decision-making process will be most affected by bounded rationality? Collaborative Independent Autocratic Consensus Democratic Among the choices, the correct answer is c. Autocratic. Let us explain these concepts further in this article. In any business opportunity, you juggle challenges and decisions left and right, none of them less important than the other. …

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