Last name 1NameCourseInstructorDateDecision-Making ProcessDecisions are actions that set the pace and direction for a business (Harvard BusinessReview, p. 4). Given the preeminence of decisions, a business can compete as well as succeedonly if it constantly makes good decisions or better choices than its rivals. It follows naturallythat bad decisions, especially those made at the top management are costly. Business leadersoften make bad decisions because they lack all the information they need apart from the fact thatthe future is full of surprises. Efficient decision-making involves a sequence of steps thatnecessitate information input at various stages of the process, and a procedure for feedback. Thisessay presents a logical step-by-step decision making process that can be applied to nearly anycomplex situation.The first step in decision-making process is establishing clear objectives. This point iscrucial because the purpose of making those decisions is to achieve a meaningful objective(Harvard Business Review, p. 5). The purpose of any decision is its important aspect whichdiffers from the specific decision outcome. It is linked with the motivation for making ...
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