ECONOMICS
DECISION MAKING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Identifying the decision needs to be made
|
|
|
Analyzing the situation
|
|
|
Making the decision
|
|
|
Reviewing the decision which was made
|
Detailed explanation-1: -Try to clearly define the nature of the decision you must make. This first step is very important.
Detailed explanation-2: -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-3: -The most important thing to remember when faced with an important decision is to determine what type of impact the decision will have on the people involved. Many bad decisions can be remedied, however, the more people the decision impacts, the more difficult it will be to remedy the situation.
Detailed explanation-4: -Step 2: Gather Information for Weighing Your Options Always seek the opinions of people that you trust or speak to experts and professionals, because it will help you to come up with a variety of solutions when weighing all your options for a final decision.
Detailed explanation-5: -Don’t let stress get the better of you. Give yourself some time (if possible). Weigh the pros and cons. Think about your goals and values. Consider all the possibilities. Talk it out. Keep a diary. Plan how you’ll tell others. More items