Question

1.
(a) What is Decision making? Explain the process. What are its challenges?
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Answer 1

Answer:

Level of Decision Making Not Clear. Sometimes, there is ambiguity in the level of power a manager holds, whether he holds the right to make modifications in the existing system. ...

Lack of Time. ...

Lack of reliable data. ...

Risk-Taking Ability. ...

Too Many Options. ...

Inadequate Support. ...

Lack of Resources. ...

Inability to Change.

Answer 2

Definition of decision making :-

■ Decision making is the process of making choices by identifying a decision , gathering information etc.

■ Taking decision step by step will result in good , satisfying and positive choice.

Process or steps of Decision making :-

● Step 1 : Identify the decision.

What is the problem on hand .

What is the objective to be achieved.

How will the decision result .

Urgency and criticality of the decision.

● Step 2 : Gather relevant information.

Collect some information about the topic of decision you are going to make . If you know about what kind of decision you are going to make then only you can make right decision.

● Step 3 : Identify the options.

We need to identify clearly all the available options, paths or actions of the decision.

● Step 4 : Evaluate the evidence.

Calculating all the advantages and disadvantages of the decision.

● Step 5 : Choose among alternatives.

Choose the best alternatives based on the information.

● Step 6 : Implement the chosen alternative.

Implement the paths , actions and options related to alternatives .

● Step 7 : Analyse the result.

Analyse the result which will come after the implementation of the alternative. see whether which alternative is suitable for you.

Challenges of decision making are :-

● Not having the information about the decision.

● Overconfidence in the outcome of the decision.

● Lack of time for making decisions.

● Again and again changing of the decision .

I hope it will help you.