George, a longtime hotel manager for holiday inn, was meeting with sally, a new front-desk manager, and telling her about his recent decision not to fire a front desk employee about whom several guests had complained. george discussed the four stages of the decision process. he said, "i first identified the problem, and then i gathered alternative solutions. i evaluated each choice and selected a solution. i then implemented my decision to not fire the employee but instead to provide him with additional training. finally, i followed up with an evaluation of the solution i'd chosen." george is using the process.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

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