Get help on Decision Making Homework Help by our experts 24/7. Decision making refers to a process whereby an alternative is chosen amongst many alternatives. It is a process of making choices. Decision making is done when a specific nature of job is to be done. If a problem occurs it is also solved through decision making. Every day manager of a company has to make many small and big decisions. So we can say that Decision making is an important and an ongoing process in any organization.
To make effective decisions one should first analysis, define and understand the problem or job and then look for various types of solutions and then select the one which suits it the best.
The importance of decision making cannot be overlooked as it helps in optimal utilization of resources like man, money, material, etc. It helps in facing problems and challenges, it helps the business to grow, goal accomplishment, increases efficiency, motivates the employees and helps in innovations.
There are also some disadvantages of decision making like it is time consuming, sometimes decisions taken are biased, improper analysis of the problem leads to wrong decisions, environmental factors cannot be controlled, the future is uncertain, etc.
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