Decision Making Skills

• Using a DECISION MATRIX to help you to decide between alternatives:

SWOT analysis is a subjective method used to evaluate the STRENGTHS, WEAKNESSES, OPPORTUNITIES, and THREATS involved in trying to attain an objective


Reference:
http://www.kent.ac.uk/careers/sk/decisionmaking.htm#DECISION

• PEST analysis (political, economic, social and technological) describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. It is part of an external analysis when conducting a strategic analysis or doing market research, and gives an overview of the different macro-environmental factors to be taken into consideration. It is a strategic tool for understanding market growth or decline, business position, potential and direction for operations.

https://en.wikipedia.org/wiki/PEST_analysis

• Identifying "Big Picture" Opportunities and Threats

Changes in your business environment can create great opportunities for your organization – and cause significant threats.PEST Analysis is a simple and widely used tool that helps you analyze the Political, Economic, Socio-Cultural, and Technological changes in your business environment. This helps you understand the "big picture" forces of change that you're exposed to, and, from this, take advantage of the opportunities that they present.PEST Analysis is often linked with SWOT Analysis [Add to My Personal Learning Plan] , however, the two tools have different areas of focus. PEST Analysis looks at "big picture" factors that might influence a decision, a market, or a potential new business. SWOT Analysis explores these factors at a business, product-line or product level.These tools complement one another and are often used together.
https://www.mindtools.com/pages/article/newTMC_09.htm