Decision making
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Decision making is the process of choosing between various options by gathering relevant information and evaluating various alternatives. It can be a rational or irrational process.
Steps in the decision-making process:
1. Identify the goal: Define the objective of the decision. See: Management by objectives
2. Gather the relevant information: Collect relevant data to weigh the best options
3. Consider the consequences: Think about the potential outcomes of each option
4. Make a decision: Choose the best option based on the information gathering process.
5. Evaluate the decision: Consider how well the decision met the goals.