Management Decision Making Process

The environment only consists of one major concern, which is internal.

The best alternative solution must be considered by management when solving a problem, regardless of other viable solutions.

After determining the viability of alternatives, there is no need for their evaluation before making a decision.

According to Souder, each alternative must be analyzed only in terms of its value and cost, without considering risk characteristics.

During the choice-making process, the decision-maker must be convinced that all previous steps were correctly undertaken before making a final decision.

Feedback is not considered important in the decision-making process and does not contribute to future decisions.

Management decision is not an important part of managing any organization.

Decision making involves choosing between two options only.

Identifying the problem is the last step in the rational decision-making process.

An environmental analysis is not necessary in the decision-making process.

Limited funds and training are internal factors that can affect a company's success.

Strict enforcement of local zoning regulations is an example of an external factor that could affect a company’s success.