Multi-Stage Decision Making is a process where decisions are made in several steps rather than all at once. This approach allows individuals or organizations to evaluate options progressively, considering the outcomes of each stage before moving on to the next. It is often used in complex situations where multiple factors need to be assessed, such as in business strategy or project management. In this method, each stage involves gathering information, analyzing alternatives, and making choices based on specific criteria. By breaking down the decision-making process, it helps reduce uncertainty and improves the quality of the final decision. This technique is valuable in fields like economics and psychology.