High quality, rapid decision making is necessary in industries characterized by constant, turbulent change in products, markets and technology.
Why decision-making process is important in business?
- Complex decisions are made by an organization through the process of rapid decision-making.
- It requires appropriate, transparent, and impartial decision-making.
- Making judgments takes time, and if they are not effective, we waste our time, money, and productivity.
- Businesses seek to operate in ways that support their rapid decision-making pace.
- By setting priorities, the organization adds value and accomplishes its objectives.
- The executives should be involved in decisions that alter the organization's strategy because they are the ones who can make or break a decision.
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