BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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choosing the best from available alternatives
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going with the opinion of the majority
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both of these
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none of these
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Detailed explanation-1: -Decision making is the process of choosing the best alternative for reaching objectives. Decision making can be defined as a process of choosing between alternatives to achieve a goal. It is the process by which an individual chooses one alternative from several to achieve a desired objective.
Detailed explanation-2: -An alternative is one of the possible courses of action available. Without alternatives, we have no decision. Good alternatives are (1) under our control, (2) significantly different, (3) potentially attractive, and (4) doable.
Detailed explanation-3: -Decision Making is the process in which we choose an option from the given alternatives.
Detailed explanation-4: -Haynes and Massie: “Decision-Making is a process of selection from a set of alternative courses of action which is thoughtful to fulfill the objective of the decision problem more satisfactorily than others.” Philip Kotler: “A decision may be defined as a conscious choice among alternative courses of action.”
Detailed explanation-5: -According to Stephen P. Robbins, “decision-making is defines as the selection of a preferred course of action from two or more alternatives.”