Discuss different phases of decision making process in detail-02251

Phases of decision-making process are:

Intelligence

searching for conditions in the environment that call for decision so

Design

inventing, developing, and analyzing possible courses of action

Choice

selecting a course of action from those available

Implementation

implementing the selected course of action

Monitoring

checking the consequences of the decision made after implementationThe

Intelligence Phase

Scan the environment to identify problem situations or opportunities. Conditions that call for decisions are identified.

Typical Activities include

1. Country Risk based on following
2. Country credit rating
3. Transparency
4. Corruption
5. Facilities for one window operation (levels of bureaucracy)
6. SRO Culture
7. Govt. Policy
8. Law & Order
9. Exchange rates

For instance, international banks while entering into country make assessment of exposure and thus limit the maximum number of transactions the bank can undertake.