ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Step 6
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Step 1
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Step 4
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Step 5
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Detailed explanation-1: -It provides a justifiable solution. All six steps are followed in order – as a cycle, beginning with “1. Identify the Problem.” Each step must be completed before moving on to the next step. redefine the problem.
Detailed explanation-2: -Step 1: Identify and define the problem. State the problem as clearly as possible. Step 2: Generate possible solutions. Step 3: Evaluate alternatives. Step 4: Decide on a solution. Step 5: Implement the solution. Step 6: Evaluate the outcome.
Detailed explanation-3: -Step 1: Identify the decision. You realize that you need to make a decision. Step 2: Gather relevant information. Step 3: Identify the alternatives. Step 4: Weigh the evidence. Step 5: Choose among alternatives. Step 6: Take action. Step 7: Review your decision & its consequences. 08-Jun-2022
Detailed explanation-4: -Define the Problem(s) Collect and Analyze the Data. Clarify and Prioritize the Problem(s) Write a Goal Statement for Each Solution. Implement Solutions: The Action Plan. Monitor and Evaluate. Restart with a New Problem, or Refine the Old Problem. 24-Feb-2023