Decision Making and Problem Solving
Demonstrate a solid understanding of decision making process for complex issues pertaining to business environment both internally and externally. (1.2)
Explain critical thinking and cognitive psychology as it pertains to analyze and synthesize information for problem solving and decision making. (2.7)
Identify and analyze different perspectives on understanding problems for different situations. (3.1)
Sample Answer
Understanding Decision Making, Critical Thinking, and Cognitive Psychology for Business
Decision Making Process for Complex Business Issues
Effective decision-making in a complex business environment requires a systematic and structured approach. Here’s a breakdown of a common decision-making process:
- Problem Identification: Clearly define the problem or opportunity at hand.
- Information Gathering: Collect relevant data from both internal and external sources.
- Analysis and Evaluation: Analyze the collected information to identify potential solutions and assess their feasibility, risks, and benefits.