Q1. Explain Decision Making Process And Various Ty

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Identifying the Problem: The first step towards a decision making process is to define the problem. Obviously, there would be no need to make a decision without having a problem. So, the first thing one has to do is to state the underlying problem that has to be solved. You also have to clearly state the outcome or goal that you desire after you have made the decision. This is a good way to start, because stating your goals would help you in clarifying your thoughts. For example, a mall owner had problem with too few people coming to shop in the mall. His team thought the problem was caused by people not feeling to save when shopping in that mall. So they hired an agency to create and implement a campaign to help people realize that shopping in the mall would help people save money. When the agency started gathering information from shoppers, they learned that feeling save or not save had nothing to do with people’s choice to shop at the mall. Instead it was the lack of parking in the mall that sent them to the local mall with its extensive parking. Had the agency not gathered enough information to understand the cause of the problem, all their solutions would have been ineffective. Generate alternate solution: The situation of making a decision arises because there are many alternatives available for it. Hence, the next step after defining the main problem would be to state out the general alternatives available for that particular situation. Here, you do not have to restrict yourself to think about the very obvious options, rather you can use your creative skills and come out with alternatives that may look a little irrelevant. This is important because sometimes solutions can come out from these out-of-the-box ideas. You would also have to do adequate research to come up with the necessary facts that would aid in solving the problem. For example, a problem

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