The process of selecting a course of action from multiple alternatives. It involves evaluating options, considering potential outcomes, and choosing the best solution to achieve desired objectives.
Characteristics
– Goal-oriented: Aims to achieve specific outcomes or solve problems.
– Involves analysis: Requires gathering and assessing information to make informed choices.
– Risk assessment: Considers potential risks and benefits associated with each option.
– Collaborative: Often involves input from various stakeholders to ensure diverse perspectives.
– Iterative: May require revisiting decisions as new information or circumstances arise.
Examples
– A project manager deciding on the best software tool to implement for team collaboration, weighing factors like cost, functionality, and user feedback.
– A company evaluating whether to enter a new market, analyzing market trends, competition, and potential return on investment.
– A team leader choosing between different strategies to improve employee engagement, considering employee surveys and feedback.