Decision makingDecision-making is the procedure ofchoosing from miscellaneous alternativesto deal with a provided problem. Hence statement second is correct.

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Decision-making is animportantpart of any type of organization.It is an act of determining a course of action. Hence statement first is correct.Theideal decisiondeserve to carry profitcapacity to the company.Awrong decisionhave the right to impact the goodwill of the organization.Eextremely decision affect the company and its employee for along term.

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Steps in Decision makingDefine the goal or problemWe have to determine the problem on which decision hregarding be taken.Gather informationIndevelopment is required to make a decision.This information can be gathered from inside and also external atmospheres.Identify alternatives or course of actionAfter collecting indevelopment, we have several choices accessible,Choose among alternativesAfter going with all alternatives, now it's time to select the best different.Implementation/Take actionOnce the different is chose, it's currently time to implement it.Monitor or Resee your decisionsAfter implementation, we need to inspect whether the different favored is offering wanted outcomes or not.If forced, repeat or follow up the procedure.

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Decision-making is not identified via Policy Making.Policy Making describes the procedure of formulation of a specific plan by the organization or federal government.Decision Making describes the process of selecting a setup or course of actionfrom various options.

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Hence statement third is incorrect.
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