Problem:
You have just concluded your initial meeting with Axel Polwalski, CEO of Polwalski Manufacturing Group and Tammy Chapman-Richards, EVP of Operations, Chapman Brothers. Axel was particularly impressed with your comments on rational decision making, although Tammy seemed unconvinced. Axel Polwalski has asked you to prepare a written report that he plans to present to his executive board of directors. This report should outline the steps in bounded rationality and rational decision making.
Please write a short report that is 500 to 700 words for Axel and the board of directors at Polwalski Manufacturing Group. Discuss an outline of the steps in bounded rationality and rational decision-making. Include a cover page and reference your sources in APA format.