Perception: Introduction to the Perceptual Process
Perception which is derived from the term “Percept” refers to a series of processes which we have to undergo to make sense of the stimuli which we encounter mentally by organization and interpretation of information about the environment we live in or are subjected to. Sensory receptors detect the stimuli or the sensory information and […]
Political Science and Public Administration
We have read about the dichotomy between the politics and administration. Subsequently, we also read about how the later authors and subject matter experts opposed the earlier dichotomy and insisted that politics and administration cannot be viewed in isolation. In this section let us try to understand the relationship between the politics and administration. According […]
How to Win at Workplace Politics
Irrational behavior of an individual against his colleague to tarnish his image and spoil his reputation at the workplace refers to politics. Office Politics is something which is inevitable. In every organization you would definitely find someone or the other indulged in politics to make his position secure at the workplace. Employees are involved in […]
What is Tail Risk and How to Manage it
Most of the literature in market risk management is dedicated to explaining the methods which are used in the management of regular market risk. This means that importance is rightly given to the management of the cases which are likely to occur 99% of the time. However, the recent past has shown us that there […]
Informal Networks in Organizations and Organizational Effectiveness
Introduction It is said that humans are social beings and hence, have an innate need to communicate, relate, and exchange information with others. We are all aware of how we form networks of familial relatives, peers, friends, and in this age of social media, virtual contacts. Therefore, being social and engaging with others comes naturally […]
Decision-making is an integral part of modern management. Essentially, Rational or sound decision making is taken as 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. Decision making process is continuous and indispensable component of managing any organization or business activities.
Decisions are made to sustain the activities of all business activities and organizational functioning.
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.
As such, decision making process can be further exemplified in the backdrop of the following definitions.
According to the Oxford Advanced Learner’s Dictionary the term decision making means - the process of deciding about something important, especially in a group of people or in an organization.
Trewatha & Newport defines decision making process as follows:, “Decision-making involves the selection of a course of action from among two or more possible alternatives in order to arrive at a solution for a given problem”.
As evidenced by the foregone definitions, decision making process is a consultative affair done by a comity of professionals to drive better functioning of any organization. Thereby, it is a continuous and dynamic activity that pervades all other activities pertaining to the organization.
Since it is an ongoing activity, decision making process plays vital importance in the functioning of an organization. Since intellectual minds are involved in the process of decision making, it requires solid scientific knowledge coupled with skills and experience in addition to mental maturity.
Further, decision making process can be regarded as check and balance system that keeps the organisation growing both in vertical and linear directions. It means that decision making process seeks a goal.
The goals are pre-set business objectives, company missions and its vision. To achieve these goals, company may face lot of obstacles in administrative, operational, marketing wings and operational domains. Such problems are sorted out through comprehensive decision making process.
No decision comes as end in itself, since it may evolve new problems to solve. When one problem is solved another arises and so on, such that decision making process, as said earlier, is a continuous and dynamic.
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
Since decision making process follows the above sequential steps, a lot of time is spent in this process. This is the case with every decision taken to solve management and administrative problems in a business setting. Though the whole process is time consuming, the result of such process in a professional organization is magnanimous.
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