Decision making

INTRODUCTION Decision- make is the critical key to the survival of an organisation, more so in this present time where we see economic boundaries mingled with countries dissect and straines become more complex, global and knowledge-driven. Managers need to tally that their organisations ar continuously innovated and improved in order to earn and beat a sustainable war-ridden edge. In fact, thrower (1985) highlighted that it is this competitive ability which is considered to be at the core of the mastery or failure of a firm. Managers realise that if their organisations be to expire in this dynamic and uncertain environment, they have to make decisions concerning new business opportunities, products, customers, suppliers, markets and technical developments. This clearly indicates that the most important managerial place is the ability to make the right decision. The outcomes of the decisions will be utilise as the benchmark to evaluate whether managers are boomi ng or not. Therefore, the question that arises is how managers make decisions and whether they are rational or irrational. DEFINITION Stoner and freeman (1989, p.165) defined decision making as a surgical operation of identifying and selecting a personal line of credit of action to deal with a precise chore or take advantage of an opportunity. Decisions are at the pump of any organisation, which relates to nearly every direct of an organisation.

Making-decision can be difficult for a number of reasons such as the organisational structure, clement behavioural, organisational culture, uncertainties, incomplete information, multiple objectives, complexity of the problem and an! xiety, which directly define the decision making process. Regardless of the constraints, managers have to make decisions. under any circumstances, decisions made cannot and must not be scathe because decisions are the mechanisms by which decision-makers try to reach the goals of the organisation; they are the means to an end. Decision-making is utmost important to... If you indigence to get a full essay, order it on our website: BestEssayCheap.com

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