Concept of Decision Making

What is decision making?

·         Decision – making is the process of identifying and selecting a course of action of solves a specific problem.

·         In the context of organization and management, the decision making can be defined as the managerial process of selecting a particular course out of several alternative courses; for achieving the organization goals. Thus decision process reduces the gap between the evaluating status and the desired status of the organization; by solving problems and key advantages of opportunities.

·         In organization managers are the decision makers; however God is greatest decision maker. Decision making is stressful exercise, managers experience remarkable nervous tension and pressure during decision making.

·         Decision is one of the most important managerial functions. It is integrated to all managerial functions like planning, organizing, staffing, leading and controlling

·         Managers manage by making decisions and getting them implemented. Managers have to maintain balance between timeliness and quality of decisions. Timeliness manes decision should be made at the right time not earlier, not later quality of decision means effective decision and selecting and implementing right alternative for accomplishing the problem solution.