Stakeholders are all the individuals or groups that are affected by an organization (such as customers, employees, shareholders, etc.) Decision-making is the action or process of thinking through possible options and selecting one

It is important to recognize that managers are continually making decisions, and that the quality of their decision-making has an impact—sometimes quite significant—on the effectiveness of the organization and its… Members of the top management team regularly make decisions that affect the future of the organization and all its stakeholders, such as deciding whether to pursue a new technology or product line.

Decision-making — The action or process of thinking through possible options and selecting one. Stakeholders — Individuals or groups who are impacted by the organization. These include owners, employees, customers, suppliers, and members of the community in which the organization is located. Heuristics — Mental shortcuts that allow a decision maker to reach a good decision quickly. They are strategies that develop based on prior experience. Process conflict — Conflict about the best way to do something; conflict that is task-oriented and constructive, and not focused on the individuals involved.

Be able to explain the two systems used by the brain in decision-making; recognize that a decision needs to be made; analyze the alternatives.