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Paper Topic:

BUSINESS

Business

The process of decision-making manifests of much important for the people as this serves as the evaluationary and assessment stage prompting the use of critical thinking and judgment for each scenario and issue that people must deal with . In the business aspect , the decision-making process determines the most suitable and effective solution for each problem . In the general process of decision-making there are four important resources must be considered and incorporated in the determination of an effective decision . These resources are namely the acts , events , outcomes and payoffs of each

situation that are all relevant to the scenario or the particular issue involved . The acts are the actions that the decision-maker consider and evaluate . These are the elements that are being evaluated in the decision-making process whether to pursue the other one on top of the other or vice versa . The second resource is the events , which are the occurrences that take place outside the control of the decision-maker or the external factor to the situation . Third are the outcomes , which are the result of the occurrences of acts and events whether as the direct result of it or the result of lack of it . Last among the four resources is the payoff , which is the value or significance of the decision made by the involved individual as related to the occurrence involved . In an actual representation , consider a certain scenario in a business organization particularly the assessment of whether pushing through the increase of the salary of the employee . The act is basically whether to increase or not . The events are the external factors of income maximization or increase in labor expense . The outcome is the decision of the employees to stay or transfer to other organization , and the payoffs are the possibility of employee satisfaction with the increase or the withdrawal of their services because of no increase , the payoffs . Indeed all of these resources are necessary and important for the development of an effective decision for the organization...

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