Sunday, August 12, 2012

Decision making


v  It is another important part of management. Managers are decision makers. Whatever they do they are the outcome of decision making. Managers have to make decisions in various areas. Decision making is the process of selecting best alternative out of available many alternatives. In the absence of alternatives decision making may not be required. The success of manager is measured in terms of how appropriate he can take decision.

The decision making process includes: -

1)      Identifying problems
2)      Developing alternatives
3)      Evaluating alternatives
4)      Selecting best alternative
5)      Putting the decision into action.

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