In the phase of the decision-making process, the objective is to define criteria for the decision, generate alternatives for meeting the criteria, and define associations between the criteria and the alternatives.

Design

Explanation:

In Simon model of decision making process there are four phases

•  Intelligence  

•Design  

•Choice  

•Implementation  

Intelligence phase: In this phase problem, situation and opportunity is being identified. The variable is identified which impacts the decision. It is based on the objective of organization and project Design phase: This is the phase in which a model for decision is being created. It is done by identifying relation between the variable of decision-making process. Their relationship is established and then model is constructed. Based on the model various alternative of decision is created. The outcome for each decision option is also predicted and  Choice phase: Based on model prepared by design phase. Various alternative of decision is created. In this phase the best decision is chosen which helps in attaining the objective most productively. Implementation phase: based on choice made. The action and activities of the decision is applied to situation or the opportunity.

In the problem defined the phase which is being discussed is one in which criteria of decision , alternative for meeting and relationship between choice and criteria is evaluated which corresponds to design phase as discussed in the above model.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.