Build Simple Models, Employ Cost-Benefit Analysis, Take Small, Incremental Steps
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(Apex) Identify the decision you need to make, list your options, list the consequences of each option, choose the best option and try it, and evaluate your decision.
The six steps of decisions are: state the situation, list the options, weigh the possible outcomes, consider values, make a decision and act on it, and evaluate the decision.
Benjamin Graham, Franco Modigliani , Friedrich von Hayek and Gunnar Myrdal are some of the famous economists who impacted positively the economy of the world.
Several sources now list the compound (gerund) form without the hyphen (perhaps the evolving use of previously improper language). However, as an adjective it is still usually hyphenated for clarity. NOTE : Spell Check does not agree. Example: "His decision making was criticized in the press." Example: "The legislators examined the mayor's decision-making authority."
list the benfit of using a case management approach to the organisation
Define your problem.Gather information and resources.List options.Weigh, compare options.Make a decision.Make a plan of action.Evaluate the decision.
Elfriede Rehbein has written: 'Friedrich List' -- subject(s): Economists
The word "cision" in "decision" comes from the Latin word "cisionem," which means "a cutting off." "Decision" originally referred to the act of cutting off or making a choice from a list of options. Over time, it has come to mean making up one's mind or reaching a conclusion.
The six steps of decisions are: state the situation, list the options, weigh the possible outcomes, consider values, make a decision and act on it, and evaluate the decision.
Several sources now list the compound (gerund) form without the hyphen (perhaps the evolving use of previously improper language). However, as an adjective it is still usually hyphenated for clarity. NOTE : Spell Check does not agree. Example: "His decision making was criticized in the press." Example: "The legislators examined the mayor's decision-making authority."
Doing a cost-benefit analysis is part of making a rational decision.