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What is decision-making? What are the criteria for decision-making? (Management issues)

Decision-making is the process of selecting and adjusting the direction, content and method of relevant activities in a certain period of time in the future by an organization or individual in order to achieve a certain goal. "Management is decision-making" is a famous saying by the famous American management scientist Herbert Simon. Management is decision-making. This definition hits the key point of management. Because decision-making is the first step in doing anything in an enterprise, that is, you must first decide what to do, and then how to do it. Decision-making is also the most laborious and risky core management work of an enterprise.

The criteria for decision-making are:

Goal: Decision-making must have clear goals, and decisions must be based on planned goals.

Feasibility: Decisions should take into account the feasibility of the action and make risk predictions.

Selectivity: Decision-making is to choose the set of options with the best possible results among many options.

Risk: Any decision has the risk of failure, so be prepared in advance.

Dynamic: Everything inside and outside the organization is changing at any time, so decision-making must also be flexible.

Satisfaction: Decision-making will not achieve absolute optimality, as long as it satisfies people.