ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In problem solving you identify and evaluate solution paths; in decision making you make a similar discovery and evaluation of alternatives. The crux of decision making, then, is the careful identification and evaluation of alternatives.

Detailed explanation-2: -It determines the team’s goals and how it operates. Most importantly, it helps teams make strategic choices. Decision-making as a manager is a crucial aspect of your role. You are responsible for making choices that impact not only yourself but also your team.

Detailed explanation-3: -co-ordinate-making sure all departments work together to achieve the end goal or objective. control-checking the effectiveness and efficiency of the proposed plan. delegate-entrusting a task or responsibility to another member of staff. motivate-encouraging staff to give their best.

Detailed explanation-4: -In simple terms, decision making is the process of making choices by recognizing the problem, gathering information about feasible solutions, and finalizing the best alternative. This process is carried out through an intuitive or logical process, or a combination of two.