ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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List your choices
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Identify your problem
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Make a choice
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None of the above
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Detailed explanation-1: -You realize that you need to make a decision. Try to clearly define the nature of the decision you must make. This first step is very important.
Detailed explanation-2: -The first step in the decision making process is Identifying a problem which means examine the problem more closely and understand the cause of a problem.
Detailed explanation-3: -To make a decision, you must first identify the problem you need to solve or the question you need to answer. Clearly define your decision. If you misidentify the problem to solve, or if the problem you’ve chosen is too broad, you’ll knock the decision train off the track before it even leaves the station.
Detailed explanation-4: -Pinpointing the issue is the first step to initiating the decision-making process. Ensure the problem is carefully analyzed, clearly defined, and everyone involved in the outcome agrees on what needs to be solved.
Detailed explanation-5: -Analyze the problem. Before you can fix an issue and use decision-making skills, take a look at the problem at hand. Gather information. Brainstorm solutions. Weigh pros and cons. Decide on a solution. 26-Apr-2019