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It is rightly said that the first important function of management is to take decisions on problems and situations. Decision-making pervades all managerial actions. It is a continuous process. Decision-making is an indispensable component of the management process itself.
Drucker recommended the scientific method of decision-making which, according to him, involves the following six steps:
Defining / Identifying the managerial problem,
Analyzing the problem,
Developing alternative solutions,
Selecting the best solution out of the available alternatives,
Converting the decision into action, and
Ensuring feedback for follow-up.
What else can I help you with?
What are the six stages of investment decision making process?
with the aid of appropriate diagrams, explain the six stages of investment decision making process
Is decision making hyphenated?
While the Associated Press (AP) Style Book-the preferred source for written style for thousands of journalists world-wide (at least those who write for the English language)-state that decision making be hyphenated in all cases (e.g.: decision-making, decision-maker), and while as a former editor and publisher, I would typically defer to the AP style, I prefer the answer provided by a number of other sources (including many, if not most, American universities and government agencies, as well as virtually all on-line resources) which say that the compound should be hyphenated when used as an adjective, and not hyphenated when used as a noun (e.g.: our decision-making process versus the process of our decision making, etc.)
Composite risk management is a decision making process for?
Composite risk management is a decision-making process for Identifying hazards and controlling risks across the full spectrum of Army missions and activities both on-duty and off-duty.
What are the advantages of the partnership form of business?
With a partnership you don't have to stress over every decision. You and your partner can share the decision making process.
3. Explain briefly various models of decision making process?
The rational model of decision making provides a four step sequence. The normative model includes limited information processes, shortcuts used to simplify decision making. and settling for "what works".
What the decision making process in driving is known as?
the decision making process in driving is known as
Does communication has a bearing on your decision making process?
Communication has a bearing on your decision making process.
Stage of decision making process?
Explain stages of (of ) in decision making process, with the flow chart?
What is decision and decision making?
Decision making is the process by which a decision is made. Communicating, when it comes to decision making, is the way the information about that decision is distributed to ensure everyone is aware.
What is the purpose of the decision making process?
The purpose of the decision making process is to ensure that you have considered all possible options and are satisfied with the choices you are making.
What part of speech is decision making process?
The phrase "decision-making process" functions as a noun. It refers to the series of steps or actions taken to arrive at a decision. In this context, "decision-making" serves as a compound adjective describing the type of process. Overall, it encapsulates a specific concept related to decision-making activities.
What is decision making and communicating?
Decision making is the process by which a decision is made. Communicating, when it comes to decision making, is the way the information about that decision is distributed to ensure everyone is aware.
What is the shortest step in the decision making process?
The shortest step in the decision-making process is typically identifying the decision that needs to be made. This involves recognizing that a decision needs to be taken and clarifying the issue at hand.
Correct sequence for decision making process?
what is the correct sequence in the policy making process
What is the fifth and last step in the decision-making process?
The fifth and last step in the decision-making process is to evaluate the decision. This involves reflecting on the outcomes of the decision, assessing its effectiveness, and learning from any mistakes or successes to inform future decision-making processes.
Why did the founding fathers create the congressional decision making process to be?
The founding fathers create the congressional decision making process to be... slow and deliberative.
What are the six stages of investment decision making process?
with the aid of appropriate diagrams, explain the six stages of investment decision making process
