Question

Decision making that involves at least two parties with distinct preferences and gives and take between them is:__________

Answer 1

Decision making that involves at least two parties with distinct preferences and gives and take between them is called negotiation.

Decision making is the process of making a choice by gathering information and assessing alternative resolutions. It helps direct human behavior and commitment towards a future goal.

The decision making can be divided various types including Strategic and Routine decisions, policy and operating decisions, programmed and non-programmed decisions.

When two parties or more parties with distinct preferences are trying to decide something by gives and takes between them it is called negotiation. They are negotiating with each other to come to a final goal at the same time incorporating their desires and wishes in the most accommodating way.

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