In the business setting, the decision criteria are the principles or requirements and the variables that are significant to the organization while making the decision.
Cost like the budget or anything of that sort is a good example of decision criteria.
Opportunity cost is another good example of decision criteria. These are the costs that someone agrees to have only if certain condition is fulfilled.
The Return on Investment helps to know the profit or the loss that is generated in relation to the amount of money invested.
Time is another good example of decision criteria. Everyone tends to choose the thing or the task that will take comparatively less time to complete.
The performances will be compared and then decided whose performances take the least time to get the work done. Accordingly, the choices will be made too.
To get rid of the risks, firms tend to make decisions that are likely to cause them fewer risks.
Functions can be experienced after a product or service is used. So accordingly the decision can be made looking at the functions.
