Decision-making steps can be defined as those steps or say the lessons learnt by an entrepreneur to make decisions efficiently.
In this step, the entrepreneur is seen consulting with DIC (District Industrial Centre) and MSME (Medium Small & Micro Enterprise). Some of the decisions to be taken are −
● Decision of acquiring fund from banks or financial institutions.
● Acquisition of permission, recognition, application.
● Making of PPR (Preliminary Project Report).
● Decision regarding land, building, plant, machinery, labor, raw material, fuel, energy, water supply, filtration, etc.
In order to make effective decisions that is adaptable and comfortable for the company, the clients and all those who are directly or indirectly linked to the decision-making step play a very vital role.