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Volume & Issue no: Volume 3, Issue 11, November 2014

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Title:
EFFECTIVE DECISION MAKING IN MANAGEMENT
Author Name:
S.Tephillah Vasantham
Abstract:
ABSTRACT A decision is choice out of several alternatives (options) made by the decision maker to achieve some objective s in a given situation. Business decisions are those, which are made in the process of conducting business to achieve its objective in a given environment. Managerial decision-making is a control point for every managerial activity may be planning, organizing, staffing, directing, controlling and communicating. Decision-making is the art of reasoned and judicious choice out of many alternatives. Once decision is taken, it implies commitment of resources. The business decision-making is sequential in nature. In business, the decisions are not isolated events. Each of them has a relation to some other decision or situation. The decision may appear as a ‘snap’ decision but it is made only after long chain of developments and a series of related earlier decisions. Keywords:- Decision making process, Types of Decisions, Decision making systems
Cite this article:
S.Tephillah Vasantham , " EFFECTIVE DECISION MAKING IN MANAGEMENT" , International Journal of Application or Innovation in Engineering & Management (IJAIEM) , Volume 3, Issue 11, November 2014 , pp. 115-116 , ISSN 2319 - 4847.
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