Essay: Stages of Decision Making Process
- I. Evaluating the effect of each available solution
This is the most important stage of the decision making process. In case the managers make the wrong choice of the solution to the problem, then the problem will continue to haunt the firm besides having wasted resources. One may consider the cost and benefit or the advantages or disadvantages of each available alternative. It is at this stage where the management must filter the available options and may be rate them in order to come up with the best option or alternative to solve the problem.
- II. Making the decision
Having come along way beginning with identification of the problem, at this point, the manager makes the pronouncement to use the best available option, which is likely to give the best results that are parallel to the business objectives.
- Evaluating the decision
- I. Implementing the decision made
After making the decision, the decision needs to be implemented in order to attain of solving the problem. At this point, all the parties involved in the implementation stage must be highlighted about the expected results so that they can all have a common goal.