ECONOMICS

Detailed explanation-1: -Decision making is the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

Detailed explanation-2: -Decision making can also be classified into three categories based on the level at which they occur. Strategic decisions set the course of organization. Tactical decisions are decisions about how things will get done. Finally, operational decisions are decisions that employees make each day to run the organization.

Detailed explanation-3: -Step 1: Identify the decision that needs to be made This first step to decision-making process involves identifying or recognizing that a decision needs to be made and defining the problem or opportunity that requires attention.