
Decision-making – definition and types of decision-making
Decision-making is a very important part in life. It is also a part and parcel of the business world. We make a variety of decisions every day; so do managers and business owners to run their businesses. Managers make decisions in the best interest of their organisations. So, what is decision-making? What does it mean? Let’s explore it then. Definition of decision-making Let’s first focus on the term ‘decision’. It usually means making a choice between two or more alternatives. Business writers regard decision-making as a process. According to Holt […]
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