Seven steps of the decision-making process.

Review the seven steps of the decision-making process. Select one step from steps 2, 3 or 4 and explain the importance of that step in the process, difficulties in carrying out that step, and how making an error in that step will impact the action portion of the decision process. Use a business example from MKT (such as how to address a customer service issue, how to solve a distribution problem in getting goods from a distribution center to a retail store, or how to improve a sales process for a service). Select one example from MGMT (such as managing a conflict among team members, determining how to allocate responsibilities for a work project, or selecting a leader for a promotion to a new role) to help make your case.

Sample Answer

Identify the decision. What is the decision that needs to be made? What are the specific criteria that need to be considered?
Gather information. What information is relevant to the decision? How can you gather this information?
Identify alternatives. What are the possible solutions to the problem? What are the pros and cons of each alternative?

Full Answer Section

Evaluate alternatives. How will each alternative meet the decision criteria? What are the risks and benefits of each alternative?
Make a decision. Which alternative is the best choice?
Take action. Implement the decision and monitor its effectiveness.
Evaluate the decision. Did the decision meet the decision criteria? What can be learned from the decision?

The step that I will focus on is step 3: Identify alternatives. This step is important because it ensures that all possible solutions to the problem are considered before a decision is made. It is also important to weigh the pros and cons of each alternative carefully in order to make the best decision.

The difficulty in carrying out this step is that it can be time-consuming and challenging to identify all possible alternatives. It is also important to be creative and open-minded when brainstorming alternatives.

Another difficulty is that it can be difficult to weigh the pros and cons of each alternative objectively. This is because people often have biases that influence their decision-making. It is important to be aware of these biases and to try to make decisions based on the facts.

If an error is made in this step, it can have a significant impact on the action portion of the decision process. For example, if a decision maker fails to identify an important alternative, they may make a decision that is not in their best interests.

Here are two examples of how the importance of step 3 can be seen in business and management:

Marketing

A marketing manager is trying to decide how to improve the sales of a new product. They could consider a variety of alternatives, such as changing the product’s packaging, increasing the advertising budget, or offering discounts. The manager would need to weigh the pros and cons of each alternative carefully before making a decision.

Management

A manager is trying to decide how to allocate responsibilities for a new project. They could consider a variety of alternatives, such as assigning the tasks to individual team members, creating a task force, or outsourcing the work. The manager would need to weigh the pros and cons of each alternative carefully before making a decision.

Here are some tips for identifying alternatives:

Brainstorm as many possible solutions as you can, even if they seem unrealistic at first.
Consider the pros and cons of each alternative.
Talk to other people who may have experience with the problem.
Do some research to learn more about the alternatives.

This question has been answered.

Get Answer

No More Worries!

Paper Formatting

No Lateness!

Our Guarantees