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Question 106

Identify and describe each of the major steps in the managerial decision-making process.

Sagot :

GinnyAnsweridn

Final answer:

The managerial decision-making process involves several key steps such as determining roles, analyzing problems, making decisions, and implementation. Separating decision management from decision control is crucial for unbiased organizational governance.


Explanation:

The managerial decision-making process involves several major steps:

  1. Determining roles within the organization.
  2. Conducting a rough analysis of the problem.
  3. Identifying opportunities for business improvement.
  4. Reconciling examination results with business goals.
  5. Engaging in the detailed decision-making process including identification, information capture, evaluation, and decision refinement.
  6. Documenting and presenting the decisions to stakeholders.
  7. Evaluating the decision-making process for improvements.
  8. Implementing the chosen alternative with firm decisions and timetables.

Key components include data collection, investigation, analysis, and recommendation. The separation of decision management from decision control is crucial in organizational governance for unbiased decision-making.

Important SEO Keywords: Decision-making process, Decision management, Decision control.


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