Decision models vary primarily based on the source/s that managers use and rely on for making the most effective decisions. The rational model of decision making is also known as the classical model. The major premise of the rational model is the decision makers, typically managers, are fully rational. However, managers in some cases and circumstances are not fully equipped regarding time, knowledge, and capacity which is the basic premise of the bounded rationality model. A third model is intuitive decision making. This model refers to the managers’ personal sources such as their experience, knowledge, personal approach, capacity, and skills.