Decision Making
Mind Map Concept Decision Making
Decision making is a process of identifying and choosing the best option among all the available alternatives in a given situation. The purpose of making decision in a particular context is to select an option that can bring the most desirable outcomes for the decision maker or for the people or groups that have a stake in those outcomes (Hardman, 2009). A decision can be as easy as accepting or declining a simple proposal and as complex as planning a strategic investment in a business. Decision making is a cognitive process in which the decision maker has to actively respond to the external environment and evaluate all the alternative choices in order to make an effective decision (Bernstein, 2011).
There are six major concepts that are generally associated with all types of decision making phenomena or processes. These concepts are:
Preliminary Information
Available Alternatives
Decision Criteria
4. Decision Goals
5. Decision Effectiveness
6. Time Constraints
These concepts of decision making are now discussed below in detail:
1. Preliminary Information:
The first concept, which is also...
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