Make Decision Definition
The thought process of selecting a logical choice from the available options. When trying to make a good decision, a person must weight the positives and negatives of each option, and consider the entire substitutes. For effective decision making, a person must be able to forecast the outcome of each option as well, and based on all these items, determine which option is the best for that particular situation.
Make or Buy Decision Definition: Make or buy decision is a decision as to whether an item should be produced internally or purchased from an outside supplier. Explanation of the Term “Make or Buy Decision”: Business decision that compares the costs and benefits of