Business Decision Analtyics Assignment
Added on 2022-09-01
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Running head: BUSINESS DECISION ANALTYICS
BUSINESS DECISION ANALTYICS
Name of the student
Name of the university
Author note
BUSINESS DECISION ANALTYICS
Name of the student
Name of the university
Author note
BUSINESS DECISION ANALTYICS
1
The Bounded Rationality model of decision making aims at identification of the decision
problem, the cognitive limitations of the decision making capabilities and time available for
making the decision. Reliance Jio undertook the initiative of making an investment of 1,50,000₹
crore with the objective of supporting the business strategy of making a dynamic market
penetration in the telecom sector (JyothiSankar & Chandrasekar, 2019). The provision of free
calls, data and messages to the customers easily enabled the organization in empowering the
buying interests of the customers. On the other hand, it has been noted that the organization
created the largest only 4G and LTE networks along with 90,000 eco-friendly 4G towers for
providing improved 4G coverage to around 22 telecom circles in India (Joy & Bahl, 2018).
The application of the Bounded Rationality model in the organizational case,
significantly developed an idea of the different factors which restricted the rational thinking
capacity of the venture. In this relation, the organization managed to access complete and
accurate information of the telecom markets in India. The organization took the initiative of
evaluating the market needs and the issues that are being faced by the customers while shifting
to digitalization. Initially, around 24.3% of the Indian population accessed the internet through
mobile devices in the year 2016 which would grow to 37.4% in the year 2021 (Joy & Bahl,
2018). However, it was impossible for the organization to evaluate all the sources of market
information before taking the decision due to the absence of tools. Harrison (2016) opined that
the cognitive limitations of the mind restricts the decision making process of an organization. In
this relation, Jio had little knowledge of the applicability of the strategy of providing free calling,
data and message facilities to the Indian customers.
According to the Bounded Rationality model the humans are not rational in many cases,
which might restrict the capability of the organization in making effective decisions (Dutta,
1
The Bounded Rationality model of decision making aims at identification of the decision
problem, the cognitive limitations of the decision making capabilities and time available for
making the decision. Reliance Jio undertook the initiative of making an investment of 1,50,000₹
crore with the objective of supporting the business strategy of making a dynamic market
penetration in the telecom sector (JyothiSankar & Chandrasekar, 2019). The provision of free
calls, data and messages to the customers easily enabled the organization in empowering the
buying interests of the customers. On the other hand, it has been noted that the organization
created the largest only 4G and LTE networks along with 90,000 eco-friendly 4G towers for
providing improved 4G coverage to around 22 telecom circles in India (Joy & Bahl, 2018).
The application of the Bounded Rationality model in the organizational case,
significantly developed an idea of the different factors which restricted the rational thinking
capacity of the venture. In this relation, the organization managed to access complete and
accurate information of the telecom markets in India. The organization took the initiative of
evaluating the market needs and the issues that are being faced by the customers while shifting
to digitalization. Initially, around 24.3% of the Indian population accessed the internet through
mobile devices in the year 2016 which would grow to 37.4% in the year 2021 (Joy & Bahl,
2018). However, it was impossible for the organization to evaluate all the sources of market
information before taking the decision due to the absence of tools. Harrison (2016) opined that
the cognitive limitations of the mind restricts the decision making process of an organization. In
this relation, Jio had little knowledge of the applicability of the strategy of providing free calling,
data and message facilities to the Indian customers.
According to the Bounded Rationality model the humans are not rational in many cases,
which might restrict the capability of the organization in making effective decisions (Dutta,
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