What are the 5 steps in the decision making process?

Step 1: Gathering information - What is the problem, what is the objective of solving it, and what are our alternatives? Step 2: Making predictions - Calculate the costs of each alternative solution to the problem. Step 3: Choosing an alternative Both quantitative (Costs) and qualitative (employee morale etc.) considerations Step 4: Implementing the decision Step 5: Evaluating performance