ECONOMICS
DECISION MAKING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Problem recognition
|
|
|
Weight the evidence
|
|
|
search process
|
|
|
Evaluating Alternatives
|
|
|
Evaluating of decision
|
Detailed explanation-1: -The five steps of strategic decision-making include all of the following except: Identify the alternative actions.
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: -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: -Strategic Decisions and Routine Decisions. Programmed Decisions and Non-Programmed Decisions. Policy Decisions and Operating Decisions. Organizational Decisions and Personal Decisions. Individual Decisions and Group Decisions.