ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Search process
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Selection stage
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Problem recognition
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Democratic
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Detailed explanation-1: -After in-depth work on 1, 021 of the responses, study authors Dan Lovallo and Olivier Sibony identified five decision-making styles. They are: Visionary, Guardian, Motivator, Flexible, and Catalyst.
Detailed explanation-2: -Hence, we conclude that changing the desired outcome is NOT one of the steps involved in the decision-making process.
Detailed explanation-3: -Democratic – “One Member, One Vote” While the group votes and the majority leads, no one individual is responsible for the decision and the group may not feel responsible if all of the members did not vote. There may be no responsibility taken for the decision.
Detailed explanation-4: -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