There are four significant steps in the managerial decision-making process. For each activity listed below, select where it falls in the decision-making process from the options in the drop-down list.
a. Rate each alternative according to criteria. Select Identify problem. Generate alternatives. Select an alternative. Implement and evaluate solution Item 1
b. Utilize nominal grouping. Select and Identify problem. Generate choices. Select an alternative. Implement and evaluate solution Item 2
c. Ask the question “why?” five times. Select Identify problem. Generate alternatives. Select an alternative. Implement and evaluate solution Item
d. Create project plan with schedule and cost. Select and Identify problem. Generate choices. Select an alternative. Implement and evaluate the solution
Decision making is an essential aspect of the company as it helps the company to make wise decisions by compiling and organizing information. Some steps are listed below:
- Identification of Problem
- Generation of Alternatives
- Selection of Alternatives
- Implementation
- Evaluation
- Rate each alternative according to criteria– this activity is conducted in the second stage, which includes the generation of other options. The organization put off different options regarding the diagnosed problem. Every aspect is rated under various aspects like time to carry out the alternative, cost involved, workforce required, desired result etc.
- Utilize nominal grouping– this activity is conducted in the second stage in which an option is generated. Different employees should be given a chance by the organization to come up with the solution to the problem. Hence, it helps to create the mixed solution to the challenge plus make the employees feel important in the organization.
- Ask the question why– this activity is conducted in the third stage in which an alternative is selected. The organization should choose an option thoughtfully as it involves time and cost. An organization can’t work with one choice and then change to another one.
- Create project plan with schedule and cost– this activity is conducted in fourth stage which includes implementation. After the selection of the best option, the organization select the best available option. The plan should be made by the organization to proceed with the same. A proper chart has to be made about the implementation of the alternative and how to utilize work, resources required, and cost involved in each stage. It helps the organization to proceed systematically.