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Book: Health care Managment

1. Explain decision-making process. (Word limit: 150-200 words)

2. What do you understand by creativity in decision-making? Explain creative process model. (Word limit: 150-200 words)

Answer 1

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1. Explain decision-making process?

Answer: Decision-making process is a mechanism through which multiple alternatives are evaluated and the best is selected according to the risk-return matrics. Various tools are used in decision making which is both qualitative and quantitative in nature such as NPV, IRR is used in deciding amongst multiple projects.

This helps in the growth of the business by taking the right decision at the right time for the growth of the company. The decision making is the fundamental which can either help the business in reaching new heights or meeting its doom.