ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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7
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5
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3
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4
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Detailed explanation-1: -7 decision-making process steps. Though there are many slight variations of the decision-making framework floating around on the Internet, in business textbooks, and in leadership presentations, professionals most commonly use these seven steps.
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: -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: -Identify the issue. Research thoroughly. Make a list of viable solutions. Include other team members in discussions. Evaluate your ideas based on their impact. Choose the best option. Evaluate the results of your decision. Modify your process for your next project. 22-Jun-2022