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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