ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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asking for advice
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making a mental movie prior to making a decision
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giving the decision time
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going with your gut feeling
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Detailed explanation-1: -The Action. Converting the decision into action is the fifth major element in the decision process. While thinking through the boundary conditions is the most difficult step in decision making, converting the decision into effective action is usually the most time-consuming one.
Detailed explanation-2: -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
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. 7 STEPS TO EFFECTIVE. Step 4: Weigh the evidence. Step 5: Choose among alternatives. Step 6: Take action. Step 7: Review your decision & its consequences.
Detailed explanation-4: -Understand the context. Make a plan. Identify the “who” and “why” Weigh the pros and cons. Get a second opinion. Limit your choices. Set deadlines. Evaluate the outcome. More items •19-May-2022