ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It is time-consuming
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Full use is made of all available data
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The decision-making can be automated
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Decisions can be made quickly
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Detailed explanation-1: -The potential advantages of hunch and intuition in decision-making include: Speed-decision-making can be instant, rather than waiting for the results of scientific data analysis!
Detailed explanation-2: -Hunch develops as leaders make decisions. As they make decisions, both good and bad, data patterns that provide information are gathered by the unconscious and stored away for future reference.
Detailed explanation-3: -Writing down your choices can help you focus on the most essential information. Set a timer or make a deadline. Create a self-imposed deadline for when you must make the decision. Alternatively, you might even set a timer that encourages you to decide within a few minutes or hours.
Detailed explanation-4: -Save time and money. Increase employees’ competitiveness. Overtake your competition. The quick answer to customers’ needs. Set clear goals. Set a deadline. Be an observer. Identify your options. More items •12-Aug-2022