4 important ways in finding the Best Solution
Among the alternative solutions the best one must be chosen. Drucker laid down four criteria for picking the best from among the possible solutions:
1. The Risk:
The manager has to weigh the risks and gains of the course of action. ‘What matters most is neither the expected gain nor the anticipated risk but the rates between diem. Every alternative should therefore contain an appraisal of die odds it carriers’.
2. Economy effort:
The line of action which can give greatest results with least efforts is chosen.
If the solution is to put into action quickly the organisation must be geared for that. On the other hand if the solution has long time for action, a slow start can be given.
4. Limitations of Resources:
As human resources are important among all resources, their limitations and competence must be properly assessed. If additional men are needed they can be added.