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Answer:
Decision-making is known as the analytical process that results in the
selection of a belief or a course of action from several possible alternative options or choices.
Explanation:
There are 5 Elements to remember in Decision Making
1: Rationalize your problem
2: Set the Boundary conditions
3: Choose the right thing to do.
4: Do an Action
5: Make Feedback.
There are important and significant factors that influence decision-making.
1. Previous experiences
2. Various cognitive biases.
3. Escalation of commitment and sunk outcomes,
4. Individual differences, which includes age and socioeconomic level
5. Relevance to personal belief.
There are 2 types of consequences in decision making:
1. Immediate
2. Long Lasting
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