Decision Making

[Name of the Institute]

Decision Making

Introduction

Decision making is a very essential activity, which is implemented by every individual in a different capacity. In the context of the professional sector, the decision making process is identified as a highly complex and comprehensive activity, in which the relevant organizations have to invest significant resources. In the traditional perspective the decision making process was considered as a very short term activity, as the managers did not rely on advanced analysis tools to finalize their decisions. The majority if the decision in this context were made by the personal choices of the managers and their intuition, rather than credible data. However advances in the field of research and trend analysis significantly changed the traditional perspective, and highly systemized the decision making process. In the contemporary organizational sector, the decision process incorporates various analytical tools, as well as the participation of a diverse set of stakeholders. In the context of the professional sector, the organization pa decisions have a significant impact on the overall society; hence the managers have to incorporate the point of view of several different stakeholders, so as to develop an ideal solution.

Although the decision making process is considered an essential organizational tool, however it is not only limited to the private organizational sector. Every individual possess a unique style of decision making, as in the course of their normal lives they have to make several significant decisions. These decisions may not as important or on the similar scale as the organizational decisions, however they do have an equally important impact on the lives of the individuals. In my life I depend on various tools and specific decision making processes to make the majority of the important decisions. Initially I thought that the majority of my decisions did not need to be established ...