Your company has been provided with the following steps for an organization's decision- making framework. What is the appropriate order for the steps?
1) Calculate relevant costs and benefits for each option.
2) Implement your choice.
3) Clearly outline the problem and its related unknowns.
4) Select the option that maximizes the benefit to the organization and meets required qualitative criteria.
5) Identify suitable options and gather relevant qualitative and quantitative information, making informed assumptions as need be.
A)5, 3, 1, 2, 4
B)3, 5, 1, 4, 2
C)3, 1, 5, 4, 2
D)1, 3, 5, 4, 2

Question

Quizplus · Accepted Answer

The appropriate order of steps in the decision-making process is (1) Clearly outline the problem and its related unknowns; (2) Identify suitable options and gather relevant qualitative and quantitative information, making informed assumptions as need be. (3) Calculate relevant costs and benefits for each option; (4) Select the option that maximizes the benefit to the organization and meets required qualitative criteria; and (5) Implement your choice.

Your Company Has Been Provided with the Following Steps for an Organization's