What guides someone's personal decision-making?
Chapter2: Managerial Decision-making
Section: Chapter Questions
Problem 8CRQ: What can individuals do to improve the quality of their decision-making?
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Question
What guides someone's personal decision-making?
Expert Solution
Step 1: Define Decision-making
Decision-making is based on an approach involved with determining and selecting options in view of a detailed assessment of attainable alternatives. It includes collecting important information, examining it, taking into account expected results, and determining the best plan. Effective decision-making requires decisive reasoning, critical thinking abilities, and the capacity to measure the upsides and downsides of different decisions.
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