Final answer:
The first step in the decision-making process is to identify and define the problem, which lays the groundwork for effective decision analysis and selecting the best course of action.
Step-by-step explanation:
The first step in the decision-making process is to identify and define the problem. This is foundational before moving on to other steps such as generating a list of alternatives, assessing the costs and benefits of each alternative, or performing an ethics double-check. Understanding the problem sets the stage for effective analysis and decision-making.
Part of the decision-making process includes a cost/benefit analysis, where the marginal costs and marginal benefits are compared to assess the value of adding an additional unit of a resource or option. This analysis utilizes a T-shaped chart where costs and benefits are juxtaposed to facilitate evaluation.
Furthermore, identifying what needs to be determined in the problem helps in effectively approaching complex problems. It involves making a list of unknowns and using that to guide the decision-making process. This initial clarity makes subsequent steps, such as evaluating options and considering their potential to meet various interests and produce happiness, more directed and purposeful.