Stop waiting for certainty. Learn to make and defend consequential decisions when information, time and attention are limited—strengthening your professional judgement, decisiveness and credibility under pressure.
Meet the course lead and explore the practical focus, learning experience, and professional value of this course.
Enroll in this course →Making Better Decisions with Limited Information is a one-week applied micro-course on Herbert Simon’s theory of bounded rationality. It develops one practical capability: deciding well when you cannot know everything, cannot weigh every option and cannot wait for certainty.
You will carry one real decision through the course—a vendor, a hire or another consequential choice under a deadline. You will learn to map the limits, set a defensible aspiration level for “good enough”, establish a stopping rule before searching, choose a heuristic that fits the situation and judge the decision by the quality of its process rather than by an unknowable optimum.
By the end of the week, you will hold a one-page decision record you can act on and stand behind: the limits you recognised, the threshold you set, the heuristic you chose, the biases you disarmed and the reasons you stopped when you did.
Most decision advice tells you either to gather more data or to trust your instincts. This course teaches the disciplined middle: how to make and defend a consequential choice within the limits you actually face. By applying Herbert Simon’s bounded rationality to one real decision, you learn when additional analysis will improve the choice, when it will merely delay it, and how to establish a credible process that remains defensible even when the eventual outcome is uncertain.
Choose a consequential decision you actually face and apply every lesson to it. Your result is a defended decision process: the limits you mapped, the threshold you established, the heuristic you selected and the reasons you stopped when you did.
Build a repeatable routine—map the limits, set an aspiration level and stopping rule, choose a fitted heuristic, search, satisfice, act and adjust—then apply it again to the next decision under pressure.
Examine where bounded rationality strains: low aspiration levels, heuristics that do not fit their environment and the objection that satisficing can disguise optimization. You learn to use the framework as a disciplined stance rather than a formula.
Make one real decision under limited information by mapping the constraints, setting an aspiration level and stopping rule, selecting a fitted heuristic, and defending the quality of the process.
You will learn to recognise a bounded decision, map the limits in play, set a defensible aspiration level and stopping rule, select a heuristic that fits the situation, and assemble a process-based decision record that can support timely and credible managerial action.
Director of the Monarch Research Institute
Dr. Norman Madarasz helps leaders examine the assumptions, values and power structures behind consequential decisions. An international specialist in political philosophy, ethics and geoeconomic relations, he has more than twenty years of academic experience across business administration, law and philosophy, has supervised over forty graduate research projects and has published extensively on ethics, economics, politics and international affairs. His teaching and research span Canada, France and Latin America, and he is a Certified Management & Business Educator. For MMI participants, Dr. Madarasz translates rigorous philosophical reasoning into practical tools for clearer judgement, fairer policy design and decisions that remain credible under stakeholder and public scrutiny.
Meet the accomplished professionals who successfully completed their doctoral studies in 2025, bringing deep leadership experience and rigorous scholarship to Monarch Switzerland.
Meet the accomplished professionals who successfully completed their doctoral studies in 2025, bringing deep leadership experience and rigorous scholarship to Monarch Switzerland.
