Decision-making is an integral part of modern management. Essentially, Rational or sound decision making is taken as a primary function of management. Every manager takes hundreds and hundreds of decisions subconsciously or consciously making it as the key component in the role of a manager. Decisions play important roles as they determine both organizational and managerial activities. A decision can be defined as a course of action purposely chosen from a set of alternatives to achieve organizational or managerial objectives or goals.
Decisions are made at every level of management to ensure organizational or business goals are achieved. Further, the decisions make up one of core functional values that every organization adopts and implements to ensure optimum growth and drivability in terms of services and or products offered.
Decision making process seeks a goal.
Goals are pre set objectives and the company faces problems while achieving these goals.Such problems are sorted out through comprehensive decision making process.
A lot of time is consumed while decisions are taken. In a management setting, decision cannot be taken abruptly. It should follow the steps such as:
1)Defining the problem;
2)Gathering information and collecting data;
3)Developing and weighing the options;
4)Choosing best possible option;
5)Plan and execute;
6)Take follow up action
Though the whole process is time consuming, the result of such process in a professional organization is magnanimous.
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