Group Decision Making

Let's define what is Group Decision Making, decisions made by committees, think tanks, teams and groups. They may include borrowers, lenders, producers, buyers, scientists and other experts, environmentalists, and real estate developers and so on.
Decision making skills is one of the most important aspects of management. It involves personal and interpersonal skills, fact finding, logical thinking, creativity, analytical ability, sensitivity to others and assertiveness

What are the key steps in making a decision?
Whether decisions are straightforward or complex, a systematic approach will lead to success.
? Setting objectives
An objective is a specific step, a milestone, which enables you to accomplish a goal. Setting objectives involves a continuous process of research and decision-making. Knowledge of yourself and your unit is a vital starting point in setting objectives. Strategic planning takes place at the highest levels; other managers are involved with operational planning. The first step in operational planning is defining objectives - the result expected by the end of the budget (or other designated) cycle. Setting right objectives is critical for effective performance management. Such objectives as higher profits, shareholder value, and customer satisfaction may be admirable, but they don't tell managers what to do. They fail to specify priorities and focus. Such objectives don't map the journey ahead - the discovery of better value and solutions for the customer. The objectives must be focused on a result, not an activity, be consistent, be specific, be measurable, be related to time, be attainable.
? Collecting information
There are several ways to gather information. You can coll ...