Decision-making
is a key determining factor of the success of every business organizations.
I've seen blue-chip companies grow, or die as a result of the decisions taken
by their managements. Some established
entrepreneurs have seen their businesses threatened by their own decisions. Inculcating a sound and rational decision-making process is of paramount importance. Sound managerial decisions are sure to be made, after taking the following decision-making steps:
entrepreneurs have seen their businesses threatened by their own decisions. Inculcating a sound and rational decision-making process is of paramount importance. Sound managerial decisions are sure to be made, after taking the following decision-making steps:
1.
Problem identification:
The presence of a problem is what triggers a decision-making process. The identification of a problem goes the way of detecting a particular need. Identifying a problem is half the solution. 2. Examine the problem:
This entails a critical scrutiny of the problem. At this stage, a closer look at the problem will be taken. This will, to a greater extent, proffer probable solutions to the problem.
The presence of a problem is what triggers a decision-making process. The identification of a problem goes the way of detecting a particular need. Identifying a problem is half the solution. 2. Examine the problem:
This entails a critical scrutiny of the problem. At this stage, a closer look at the problem will be taken. This will, to a greater extent, proffer probable solutions to the problem.
3. Source
for solution:
At this stage, the decision maker is expected to go scouting for information. These pieces of information could be generated from various avenues. The more the information generated, the higher the tendency to have this problem solved.
At this stage, the decision maker is expected to go scouting for information. These pieces of information could be generated from various avenues. The more the information generated, the higher the tendency to have this problem solved.
4.
Examine the information gathered:
At this stage, a thorough examination would be carried out in order to get the best solution. With the eclectic generation of information, it's easier to have a rational decision made.
At this stage, a thorough examination would be carried out in order to get the best solution. With the eclectic generation of information, it's easier to have a rational decision made.
5. Select
the best solution:
After a careful scrutiny on the processed information, the decision-maker will then select the best solution that is aimed at helping him make an informed decision.
After a careful scrutiny on the processed information, the decision-maker will then select the best solution that is aimed at helping him make an informed decision.
6. Implement
the best solution:
The next step is to implement the selected best solution.
The next step is to implement the selected best solution.
7. Monitor
the result:
After implementing the best solution in order to solution the identified problem, the decision-maker ought to monitor the outcome, and check for rationality.
In conclusion, most decisions taken by some policy makers aggravated the problems they were meant to solve. This is as a result of the fact that the decisions were not well-structured. For young entrepreneurs
to become successful, sound and rational decisions must be taken at all times. Please share these tips with your friends.
After implementing the best solution in order to solution the identified problem, the decision-maker ought to monitor the outcome, and check for rationality.
In conclusion, most decisions taken by some policy makers aggravated the problems they were meant to solve. This is as a result of the fact that the decisions were not well-structured. For young entrepreneurs
to become successful, sound and rational decisions must be taken at all times. Please share these tips with your friends.
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