BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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problem solving
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Problem analyzing
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Managerial expertise
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Decision making
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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: -Decision-making is a process of selecting the best among the different alternatives. It is the act of making a choice. There are so many alternatives found in the organization and departments. Decision-making is defined as the selection of choice of one best alternative.
Detailed explanation-3: -Selecting one from the various alternatives is called decision making. When trying to make a good decision, a person must weigh the positives and negatives of each option, and consider all the best possible alternative.
Detailed explanation-4: -Dilemma does not mean simply a problem; it means a choice between disagreeable alternatives.
Detailed explanation-5: -Trewatha & Newport defines decision making process as follows:, “Decision-making involves the selection of a course of action from among two or more possible alternatives in order to arrive at a solution for a given problem”.