What is a Decision-Making Strategy?
shared by jaycewhitehead on May 15
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The process of decision-making involves a series of steps or actions that an individual or group goes through in order to make a well-informed choice or a decision. A decision-making process involves ...
several phases or steps. It starts by defining the problem, situation or problem that must be resolved. It then involves collecting the relevant information and facts as well as analyzing different options and alternatives, considering the pros and cons of each, and finally, selecting the best course of action. The use of effective decision-making will allow people to make better informed choices to reduce risk and achieve their goals faster. It is one of the most common models for taking decisions. Others include the bounded-rationality model as well as the intuitive model.
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