Analytical Thinking and Decision Making

Analytical Thinking
and Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Q1. Significance of decision making......................................................................................1
Q2. Outlining of decision making problem............................................................................3
Q3. SMART technique application to outline decision problem...........................................4
Q4. Assessment of strengths and limitations of own analysis................................................4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Analytical thinking introduces to the critical element of visual thinking that provides one the
capability to solve any kind of issue effectively and quickly. It consists a methodological step-
by-step approach or component to thinking that allow an individual to break down difficult
issues into manageable and single elements. Decision making refers to the process of making
effective choice by determining a decision, collecting data, and assessing better or alternative
solutions. Within an organisation, there are number of issues can occur, so it is the role of
business manager to deal with it in effective and quicker manner. This report is based on
different tasks that will be included importance of decision making and its application in decision
analysis. Application of SMART techniques will also cover that support business manager in
making of effective decision regarding any type of issues. At last, strength and limitation of
decision problem will also discuss under this report.
MAIN BODY
Q1. Significance of decision making
Key features of decision making
Decision making is goal oriented: Every single choice of the executives major or minor
must make, in any event, a few commitment towards the achievement of authoritative
destinations. On the off chance that something else, dynamic is an inefficient action; including
just a sheer wastage of the time, vitality and endeavours of supervisors, and valuable
authoritative assets.
Decision making is intellectual exercise: Dynamic calls for innovativeness and creative
mind with respect to directors; in that choice - making powers supervisors to think regarding
growing best goals and best options for achieving those goals.
Decision making is continuous process: Dynamic procedure initiates since the origin of
business and proceeds all through the hierarchical life. All chiefs take choices for hierarchical
Association Charts: Types, Principles, purposes; insofar as the venture is in presence. Indeed,
dynamic is additionally associated with the way toward selling or ending up a business
endeavour (Bachmann and Niemivirta, 2019).
Different stages of decision making
There are 9 different stages of decision making which are defined below:
1