Prof. Business & Finance homework assistance| Business & Finance homework help
These are the stages of my decision-making process:
1) Identification of the problem: To move on to resolution, you must first recognize and acknowledge that there is a problem. My decision is to understand why this action must be taken and then how I can best deal with it.
2) First Analysis: Once the problem is identified, the next step will be to examine relevant information about the situation. This will help you understand what factors might need consideration during the evaluation phase.
Option Generation: When enough information has been collected, it is possible to begin looking at different options. This takes into consideration their suitability for a particular situation and the associated cost/benefits.
4) Evaluation & Selection: This is where each option generated previously will be assessed and compared against one another based on criteria set so that most viable solution can then chosen and implemented accordingly.
5) Implementation & Monitor Progress: At this point strategies are put action through various means such restructuring operations or introducing new products/services etc. This stage requires preparation to ensure that there aren’t any surprises. Regular monitoring should be established so you can monitor progress and make sure desired results are achieved.
6) Final Review & Adjustment: The final phase includes assessing progress made towards achieving desired goals while also regularly evaluating if necessary adjustments are required with regards existing tactics being employed. It helps to ensure that the set goals are met, while also allowing for modifications if necessary further down the line. This allows organizations to stay on top of their competition.