Decision is a choice whereby a person comes to a conclusion about a situation. Decision-making is a process and decision is the product of such a process. Decision-making is the selection of a course of action from among alternatives to achieve a specific objective or to solve a problem.

Selection implies a discriminating choice. Alternative implies a real opportunity to choose from two or more things. Objective implies something tangible to be achieved. Decision is also a solution to the problem.

• Strategic decisions or basic decisions

• Administrative decisions

• Tactical or routine decisions

• Programmed and non-programmed decisions

• Organisational and personal decisions

• Strategic decisions are taken by top level management

• Administrative decisions are taken by middle management

• Tactical decisions are made by low level management

We can classify decisions according to the conditions under which they are made as:

• Decisions under certainty

• Decisions under risk and

• Decisions under uncertainty

• Defining the real problem

• Analysis

• Developing alternative solutions

• Selection of the decision

• Execution of the decision

• Follow up

About us | Contribute
Mangement Refresher | Quotes
Articles | General Tips | Titbits
Stories | FAQS | Quiz | Slide Shows
Advertisements | Feedback | Site Search | Subscribe |