Explain the different types of decision-making in management and discuss the factors that influence decision-making in organizations
Explain the different types of decision-making in management and discuss the factors that influence decision-making in organizations
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Explain the different types of decision-making in management and discuss the factors that
influence decision-making in organizations
Expert Solution
Step 1: Define the term decision-making :
Decision- making is the process of opting a course of action or choosing from among colorful alternatives to achieve a specific thing or break a problem. It involves assessing available options, considering the implicit consequences of each option, and making a choice grounded on applicable information, preferences, and constraints. Decision- timber is a abecedarian cognitive and directorial process that occurs in colorful aspects of life, from particular choices to business strategies, and it plays a critical part in shaping the issues of these opinions.
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