Which of the following statements are true about Herbert A Simon's decision-making process? 1. Decision-making process involves intelligence, design and choice activities. 2. Decision-making involves choice between alternative plans of action. 3. Bounded rationality has no significance in decision-making process. 4. Satisficing model brings about a balance between individual and organisational value judgement in decision-making process.

The correct answer is: Both 1 and 2 are true.

Herbert A. Simon proposed a three-stage decision-making process: intelligence, design, and choice.

• Intelligence involves identifying and defining the problem.
• Design involves generating and evaluating alternative solutions.
• Choice involves selecting the best solution.

Simon also introduced the concept of bounded rationality, which is the idea that decision-makers are limited in their ability to process information and make optimal decisions. This is because they have limited time, resources, and knowledge.

Satisficing is a decision-making heuristic that involves choosing the first alternative that meets a minimum level of acceptability. This is in contrast to optimizing, which involves choosing the best possible alternative.

Satisficing is often used in situations where there is a lot of uncertainty or when there is a need to make a quick decision. It can also be used when there are many alternatives to choose from.

Here is a brief explanation of each option:

1. Decision-making process involves intelligence, design and choice activities.

This is true. Simon's three-stage decision-making process involves intelligence, design, and choice.

1. Decision-making involves choice between alternative plans of action.

This is also true. In the design stage of the decision-making process, decision-makers generate and evaluate alternative solutions.

1. Bounded rationality has no significance in decision-making process.

This is not true. Bounded rationality is a key concept in Simon's decision-making theory. It is the idea that decision-makers are limited in their ability to process information and make optimal decisions.

1. Satisficing model brings about a balance between individual and organisational value judgement in decision-making process.

This is not true. Satisficing is a decision-making heuristic that is used to make decisions quickly and efficiently. It does not necessarily bring about a balance between individual and organisational value judgement.

In conclusion, the correct answer is: Both 1 and 2 are true.