ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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transferring.
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rethinking.
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decision-making.
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problem-solving.
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Detailed explanation-1: -Selecting the best alternatives: Decision making is the process of selecting the best alternatives. It is necessary in every organization because there are many alternatives. So decision makers evaluate various advantages and disadvantages of every alternative and select the best alternative. 6.
Detailed explanation-2: -Selecting one from the various alternatives is called decision making. When trying to make a good decision, a person must weigh the positives and negatives of each option, and consider all the best possible alternative.
Detailed explanation-3: -George R. Terry: “Decision making is the selection based on some criteria from two or more possible alternatives.” Koontz & O’Donnel: “Decision is the selection from among alternatives of a course of actions.”