Define the term "Decision-Making"

Decision making is the process of identifying the options available and then choosing a specific course of action to solve a specific problem

Explain the relationship between problem-solving and decision-making

There is a connection between problem solving and decision making as when solving problems, there will be various options available and you have to decide which one to take.

Consequences of poor-decision making

Poor decision making can lead to a corruption of the business, and the more poor decisions made, the less reliable the business looks from a customer point of view. Poor decisions can result due to not enough research and being reckless, and an example of this would be NASA in 1986 where they had to decide whether to launch the space shuttle or not even though temperatures at the launch site had fallen below the levels normally required for a safe launch. The top-level NASA managers decided to launch the space shuttle and this decision resulted deaths of all the astronauts on board.

How would a manager use the business life cycle to assist in making decisions?

Managers would use the business life cycle to assist when making decisions as their each positions in the life cycle has different aims and consequences for the business.

For example, if a company is at the post maturity stage, the aim of the company should be to develop even further and to reach renewal. The manager of the company will therefore make decisions that are going to help the company move to the direction that they want to go.

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