Step 3: Principles for judging the alternatives For the process of information gathering, tools such as 'Check Sheets' can be effectively used. In the process of solving the problem, you will have to gather as much as information related to the factors and stakeholders involved in the problem. In addition, there can be dozens of factors involved and affected by the problem. Who are the affected parties of the problem?ĭoes the problem have a deadline or a specific time-line?Ī problem of an organization will have many stakeholders. There are a couple of questions one should ask when it comes to identifying the purpose of the decision. In this step, the problem is thoroughly analysed. Step 1: Identification of the purpose of the decision Each step may be supported by different tools and techniques. Steps of Decision Making Processįollowing are the important steps of the decision making process. Let's have a look at the decision making process in detail.
Majority of corporate decisions involve some level of dissatisfaction or conflict with another party. In addition, we may make our own private decisions or may prefer a collective decision. In the process of decision making, we may use many tools, techniques and perceptions. In the decision making process, we choose one course of action from a few possible alternatives. Therefore, corporate decision making process is the most critical process in any organization. When it comes to business organizations, decision making is a habit and a process as well.Įffective and successful decisions make profit to the company and unsuccessful ones make losses. Decision making is a daily activity for any human being.
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