ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Keep your values and goals in mind
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Ignore your friends’ advice
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Follow your friends’ advice
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Keep your option to a minimum
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Detailed explanation-1: -Problem solving is the act of defining a problem; determining the cause of the problem; identifying, prioritizing, and selecting alternatives for a solution; and implementing a solution.
Detailed explanation-2: -Stop 1: Problem (Define the problems in the case.) Stop 2: Cause of the Problem (Identify the OB concepts or theories to use to solve the problem.) Stop 3: Recommendation (Explain what you would do to correct the situation.)
Detailed explanation-3: -Step 1: Define the Problem. What is the problem? Step 2: Clarify the Problem. Step 3: Define the Goals. Step 4: Identify Root Cause of the Problem. Step 5: Develop Action Plan. Step 6: Execute Action Plan. Step 7: Evaluate the Results. Step 8: Continuously Improve.
Detailed explanation-4: -Develop a Problem Statement. Determine Root Causes. Rank Root Causes in Order of Importance. Create an Action Plan. 07-Jun-2017