This article or section should be merged with Decision_making.

A decision is the commitment to irrevocably allocate valuable resources. A decision is a commitment to act. Action is therefore the irrevocable allocation of valuable resources. Decision making is the cognitive process of selecting a course of action from among multiple alternatives. ... Look up Action in Wiktionary, the free dictionary Action can be used in different contexts: Action movie Action game Action Comics, an American comic book series featuring Superman Action, a British comics anthology of the 1970s In physics, the action is a crucial concept in Lagrangian mechanics In philosophy, action...

This step toward action is one of a series; in the health care field, for example, the steps may be remembered with the mnemonic BRAND, which includes Health care or healthcare is an industry associated with the provision of medical care to individuals. ...

• Benefits of the action
• Risks in the action
• Alternatives to the prospective action
• Nothing: that is, doing nothing at all
• Decision

Finally, Good. ... Risk is the potential harm that may arise from some present process or from some future event. ... Alternative originally meant one of two possible choices but today the term may refer to: Alternative society Alternative medicine, including Traditional Chinese Medicine, Acupuncture, etc. ... For the mathematics of nothing, see 0 (number). ...

• Action, with its attendant consequences.

It is perhaps pertinent to note that the cost of making no decision at all itself is a factor, and that the benefit of making some decision, even a random choice, can be beneficial in the longer term. Thus the reversibility of an action may be a good way to judge whether or not an action or process is beneficial. A resource can also be viewed as something expendable, or bearing a cost, rather than the implication of selecting something irrevocably. Look up Action in Wiktionary, the free dictionary Action can be used in different contexts: Action movie Action game Action Comics, an American comic book series featuring Superman Action, a British comics anthology of the 1970s In physics, the action is a crucial concept in Lagrangian mechanics In philosophy, action... Consequence can be: Consequences is a game. ... Process (lat. ... Resources comprise the base material for an activity or industry: See resource (economics) for the term as used in economics See human capital for human resources (HR) and innovation See natural resources for material matter See resource (computer science) for the computer science meaning of resources This is a disambiguation... In economics, business, and accounting, a cost is a price paid, or otherwise associated with, a commercial event or economic transaction. ...

Even life and death decisions have been priced this way, as in the insurance industry. Insurance in law and economics, is a system common throughout the world used to alleviate potential financial loss by transferring risk of loss from one entity to another. ...

See

• Choice
• Execution
• Insurance
• Judgement
• Cost
• Benefit
• Decision theory