I. Selecting the best alternative
II. Identifying the problem
III. Searching alternative solutions
IV. Thinking through alternatives
V. Feedback
Decision-Making Steps Sequence
Effective decision-making follows a logical sequence to ensure the best outcome. Analyzing the given steps helps determine the correct order:
Key Steps in Order
- II. Identifying the problem: This is the foundational step. Before any solution can be found, the exact problem or decision required must be clearly defined and understood.
- III. Searching alternative solutions: Once the problem is identified, the next logical action is to explore various potential solutions or courses of action. This involves gathering information and brainstorming options.
- IV. Thinking through alternatives: After identifying potential solutions, each alternative needs careful consideration. This step involves evaluating the pros, cons, feasibility, and potential consequences of each option.
- I. Selecting the best alternative: Based on the evaluation in the previous step, the most suitable or optimal alternative is chosen. This is the core decision point.
- V. Feedback: The final step involves reviewing the outcome of the selected decision. Feedback helps assess the effectiveness of the choice and provides learning for future decisions.
Therefore, the correct sequence is II, III, IV, I, V.
Important Questions from Decision Making
Which of the following common difficulties are faced in making decisions and implementing?
(A) Non-actionable information
(B) Unsupporting environment
(C) Easy acceptance by subordinates
(D) Ineffective communication
(E) Incorrect timing
Choose the correct answer from the options given below
Match List - I with List - II.
List - I
Decision Rule
List - II
Rationale for applying the decision Rule to Down App.
(A)
Conjunctive
I)
"I bought the Smartphone App with the highest over all railing".
(B)
Disjunctive
(II)
"I down loaded the Smartphone App that had the most downloads".
(C)
Affect Referred
(III)
"I selected the Smart Phone App that had no bad features".
(D)
Majority vote
(IV)
"I picked the Smart Phone App that excelled in at least one attribute ".
Choose the correct answer from the options given below:
- Who pioneered the concept of "Fight or Flight situation" as stress survival trait ?
- An economic decision in the family deals with :
(i) Multiple goals
(ii) Single goal
(iii) Multiple values
(iv) Scarce resources
code : - Match List – I with List – II and indicate your answer by using the codes given below :
List - I
(Concept)List - II
(Description)p. Heuristics 1. Judgements made on the basis of specific kind of information that can be brought to mind. q. Representative Heuristics 2. Tendency to use a number of value as a starting point to whom one adopts. r. Availability Heuristics 3. Simple rules for drawing inferences in a rapid and effortless manner. s. Anchoring and Adjustment Heuristics 4. Judgements made on the basis of resemblance of current stimuli to other stimuli.
Codes:
