ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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how I should wear my hair
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eat an apple or orange
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brush my teeth
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what I should wear
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Detailed explanation-1: -The first and most common type of individual decision you make is routine decisions. These are daily decisions (or programmed decisions) that you give little or no thought to. They are usually habitual or instinctive, such as what you eat, wear, and do every day. They don’t require you to make a strategic decision.
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: -After in-depth work on 1, 021 of the responses, study authors Dan Lovallo and Olivier Sibony identified five decision-making styles. They are: Visionary, Guardian, Motivator, Flexible, and Catalyst.
Detailed explanation-4: -Deciding what to wear. Deciding what to eat for lunch. Choosing which book to read. Deciding what task to do next. 11-Sept-2020