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in Management - Processor Functions Managerial Role and Levels by (53.6k points)

Explain decision-making function of management and mention its steps.

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The process of selecting the best alternative out of available alternatives identified for doing a work is known as decision-making. It is an intellectual activity related to choosing the most viable, feasible course of action, out of the possible alternatives. Steps of decision-making are : 

1. Analysing the problem. 

2. Defining the problem. 

3. Developing alternative courses of actions/alternatives to the problem. 

4. Evaluating and choosing the best course of action. 

5. Feedback and follow-up action.

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