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What are the necessary steps which managers should be careful while having a decision making in organization?All managers want to make the best decisions.. Define the problem.. Identify limiting factors.. Develop potential alternatives.. Analyze the alternatives.. Select the best alternative.. Implement the decision.. Establish a control and evaluation system.. What is searching for and choosing an acceptable or satisfactory response to problems and opportunities rather than trying to make the best decision?Rather, they use a strategy known as satisficing, which is searching and choosing acceptable, or satisfactory ways to respond to problems and oppurtunities, rather than trying to make the best decision.
When a manager chooses an acceptable alternative instead of the optimum alternative we say that a satisficing decision has occurred?When a manager chooses an acceptable alternative instead of the optimum alternative, we say that a satisficing decision has occurred. The first step in decision making that a manager needs to take is generate a set of feasible alternative courses of action in response to the opportunity or threat.
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What is the most appropriate decision in light of what managers believe to be the most desirable consequences for the organization?
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