Question

Thread: DQ1: Discuss the decision-making process in the textbook.

Answer 1

Decision making can be defined as a process of making choices by identifying a decision, collecting information, assessing alternative choices; and deciding on the best route to take. The following are the main steps of the decision making process

--Identify the decision: The initial step in making the right decision is recognizing the issue or opportunity and deciding to address it. Clearly define the decision.

-- Gather information: Gather some pertinent information based on facts and data before you making the decision. This step involves both internal as well as external work

--Identify alternatives. Once you have a proper understanding of the problem, it’s time to list all possible and desirable alternatives.

--Weigh the evidence: Management must weigh pros and cons, then choose the option that has the highest chances of success. They must evaluate whether the requirement identified in Step 1 would be resolved or met through the usage of each alternative

--Choose among alternatives: Once all alternatives are weighed, it’s time to make the decision and select the alternative that seems to be best one. Management may also choose a combination of alternatives which have potential to fully grasp all relevant information and potential risks/

--Take action: Now you may create a plan for implementation. It involves identification of what resources are needed and gaining support from stakeholders and employees.

--Review your decision and its consequences. An often-overlooked however vital step in the decision making process is evaluating the decision after regular intervals for effectiveness.