Posts Tagged ‘decision’

The Steps Of A Decision-Making Process

Managerial decision making is one of the principal concepts of modern practical management. Effective decision making has a great impact on organizational performance, and there is a great deal of historical episodes, when brilliant strategic managerial decisions helped known successful organizations to survive and avoid bankruptcy. Some management theorists treat the model of decision making as an act of choosing the most attractive solution or decision from a number of alternatives. However, decision making must be understood as a complex step-by-step process, a course of actions which leads to making an effective decision and solving a managerial problem.

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