Assignment

Decision Making

Decision making is the cognitive process of selecting between available choices and takes the steps best in the particular circumstances. Managers have to take decisions on the basis of their experience, market and knowledge to select the best option available with consideration of its staff. According to Scott, in line with the objectives of the company, it relies on the consideration of the aspirations and expectations of the staff (Scott 2005).

Every day, managers of various companies that exist throughout the world, face many challenges in terms of dealing with new technologies globally. According to Johnson the key success is to avoid the danger of loss of quality and control of information (Johnson, 2008). Similarly, according to Benjamin, we must understand the importance of timely decision making to take effective decisions (Benjamin, 2005).

Recent theory concerned with problem-solving suggests that different types of decision making require different group structures and processes. The administrator who "manages" the decision-making process must, therefore, organize the executive team in different ways as he deals with the variety of decision-making situations within the firm. Every practicing administrator is well aware of these qualitative differences in the problem-solving situations which he and his management team face. The management group will often change its pattern of communication and individual managers will adjust their roles, as the management team faces different tasks.

Decision making on the part of managers or leaders is undoubtedly the most important aspect of an organization's success in the modern era. Often, top management tries to analyse and identify which areas of opportunity are important to develop and improve business, maximize efficiency and increase sales, and hence our profit margins. They look for the details, analyze and define the macro behavior of action plans to correct the faults. The most common factors relating to operational aspects ...