Major and Minor Decisions
Major Decisions are significant choices that can have a long-lasting impact on our lives. For example, deciding on a career path, choosing a life partner, or buying a house are major decisions. These decisions often require careful thought, research, and sometimes advice from others because they can affect our future in profound ways.
On the other hand, minor decisions are smaller choices that we make more frequently and with less deliberation. Examples include what to eat for dinner, which clothes to wear, or what movie to watch. These decisions usually have a short-term impact and can often be changed without much consequence.
For major decisions, it is wise to take time, gather information, and consider the long-term implications. For minor decisions, it’s often better to make a quick choice and move on, saving mental energy for the more important decisions in life.
Besides the above mentioned decisions, there are several other decisions that need to be looked into by an organization. One of those decisions is Buying Decision. It is a choice made by a consumer for the purchase of a product or service.
Types of Decision-making
Decision-making is the process of selecting the best course of action from a set of alternative options to achieve a desired goal or objective. It involves four interrelated phases: explorative (searching for potential alternatives), speculative (identifying the factors that influence the decision problem), evaluative (analyzing and comparing the alternative courses of action), and selective (making the final choice of the best course of action).
The ultimate aim of decision-making is to find the option that is believed to fulfil the objective of the decision problem most satisfactorily compared to other alternatives.
Table of Content
- Types of Decision-making
- 1. Programmed and Non-programmed Decisions
- 2. Routine and Strategic Decisions
- 3. Organisational and Personal Decisions
- 4. Individual and Group Decisions
- 5. Tactical and Operational Decisions
- 6. Major and Minor Decisions:
- Types of Decision-making – FAQs