What is decision-making in business?

QuestionsWhat is decision-making in business?
Nikhil Rawat asked 9 months ago
3 Answers
Priya Vishwas answered 9 months ago
Decision-making mainly compresses selecting the best path to achieve the goals of the organisation among the different alternatives available to them. decision making in business is a continuous process and it mainly affects the business functions. Perfect decisions are to be made for proper and smooth functioning.
Akshaj Singh answered 9 months ago
Everything is better when it is pre-determined and fully understood. Likewise, business decisions are taken to make sure that the outcomes of those activities regarding what decisions are made are predictable. There is always certainty in what is going to happen if the decisions are taken. Rather than doing things in the heat of the moment, it is always better to decide things in advance and conduct business activities according to that.
Deepak Goyal answered 9 months ago
Business decisions help us to decide the best among the many alternatives available to us. Decision making always helps us to analyse the opportunity cost of the business. Decisions help to choose the best way to achieve the desired outcome in the most optimum manner. decisions are taken on the bases of different factors that affect the business and the impact of each factor on the business.