Question

When attempting a research for a business manager at what stage does the researcher enter
the decision making process?​

Answer 1

Explanation:

Business research reduces uncertainty and improves decision-making outcomes. It is indispensable in numerous strategic decision-making situations, such as defining current competitive challenges, improving business practices and searching for business opportunities. With limited resources, small businesses are vulnerable to strategic decision-making mistakes; as a result, mastery of business research decision-making process is vital for small-business managers.

Answer 2

Answer:

Identification of the problem, which entails a closer examination of the issue and an understanding of its root causes, is the first step in the decision-making process.

Explanation:

• The clear identification of opportunities or the diagnosis of issues that call for a decision is the first step in the decision-making process.
• The outcomes the organization hopes to achieve are reflected in its objectives. When making decisions, the objective is the desired outcome.
• Before estimating an economic model, the identification problem must be resolved. It is a deductive, logical problem.
• The equilibrium point in a demand and supply model is shared by both curves, and numerous suppositional curves can pass through it.

The Procedure for Making Decisions?

• Determine the issue or circumstance.

• Think about the nature of the issue.

• Investigate the issue.

• Create remedies for the issue.

• Give Pros and Cons.

• Pick the Best Course of Action.

• Implement Your Decision.

• Communicate and evaluate.

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