Good Decision Making Process

Decision making is a process of choosing from two or more alternatives. A good decision is the one which is consistent logically with all the information one has. A good decision is the one that incorporates all the possible alternatives (Shepherd, & Rudd,2014). A good decision can be taken when one considers all the probabilities associated with the alternatives and considers all the likely outcomes of all the alternatives. Decision- making process consists of some steps. The first step is to identify a problem. It is important to identify the exact problem before considering all the alternatives. The second step is to identify a decision criteria. The third step is to allot weights to the decision criteria. The fourth step is to develop alternatives. The next step is to analyze the developed alternatives. The last step is to implement the alternative. During the entire decision-making process, it is important to evaluate the effectiveness of the decision. There can be two approaches to making a decision- rational approach and an emotional approach (Lerner, Li, Valdesolo, &

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