Decision-making that is based on a systematic and logical framework; its purpose is to remove, as far as possible, subjectivity and emotions from decision-making.

Decision-making that is based on a systematic and logical framework; its purpose is to remove, as far as possible, subjectivity and emotions from decision-making.

• A. Decision-making
• B. Scientific decision-making
• C. Trade cycle
• D. Executive summary

Answer: (B)

The main idea here is using a structured, evidence-based approach to decisions to minimize bias and emotion. That describes scientific decision-making. In this approach, you gather relevant data, apply clear criteria or models, test hypotheses about what will happen, and compare options against objective measures. The aim is to make choices that can be explained, justified, and, if needed, tested or revisited, rather than relying on gut feeling or personal preferences. In business, this might mean evaluating alternatives using data on costs, risks, and outcomes, and using a decision framework or matrix to guide the choice. For example, selecting a supplier based on measurable factors like price, quality, delivery reliability, and after-sales support, rather than simply choosing the cheapest option or the one you’re most familiar with. Other terms don’t fit because one is simply a general term for making decisions, which can include intuition and emotions; another refers to a macroeconomic pattern, not a decision method; and the last is a document that summarizes a report, not a method of decision-making.

The main idea here is using a structured, evidence-based approach to decisions to minimize bias and emotion. That describes scientific decision-making. In this approach, you gather relevant data, apply clear criteria or models, test hypotheses about what will happen, and compare options against objective measures. The aim is to make choices that can be explained, justified, and, if needed, tested or revisited, rather than relying on gut feeling or personal preferences.

In business, this might mean evaluating alternatives using data on costs, risks, and outcomes, and using a decision framework or matrix to guide the choice. For example, selecting a supplier based on measurable factors like price, quality, delivery reliability, and after-sales support, rather than simply choosing the cheapest option or the one you’re most familiar with.

Other terms don’t fit because one is simply a general term for making decisions, which can include intuition and emotions; another refers to a macroeconomic pattern, not a decision method; and the last is a document that summarizes a report, not a method of decision-making.