ECONOMICS

Detailed explanation-1: -The four functions are: Planning involves the planning of decision making. Organizing includes appropriate coordination between planning and resources. Leading involves motivating the employees to achieve organizational goals.

Detailed explanation-2: -The manager is the one who makes decisions and decision-making is the essence of planning. Planning is the first and most important function of management as a process that determines all other functions: organizing, managing human resources, managing and control.

Detailed explanation-3: -In simple terms, decision making is the process of making choices by recognizing the problem, gathering information about feasible solutions, and finalizing the best alternative.

Detailed explanation-4: -1.2 Planning The first and the most important function of management is Planning. Planning involves setting objectives in advance, a goal which is to be achieved within a stipulated time. Various alternatives are formulated in order to achieve the goals.

Detailed explanation-5: -Answer and Explanation: Decision making is a core section in management functions of any organization since it sets the direction of the organization. It’s set the pace for the other staff members. It highlights to route every staff is expected to take to help in the realization of organizational goals.