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Decision Making

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Explain the difference between managerial decision making and strategic decision making? Provide an example of a time when a manager's good decision was not an effective strategic decision.

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The response addresses the queries posted in 376 Words, APA References

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The response address the queries posted in 539 words with references.
//Before writing about the managerial decision making and Strategic Decision Making, it is essential to have knowledge about the main aspects of 'Decision Making'. One should know about the process of decision making, which further will assist in analyzing the decision masking process in an effective manner.//

Introduction

Decision making is a process of selecting a course of action among a number of alternatives. In other words, Decision making is a process of identifying and selecting the most appropriate alternative and decreasing uncertainty of irrational decision making (Luthans, 1998). Proper decision making enhances the probability of success and it should fulfill the organizational goals and objectives. There are a number of factors that affect the process of decision making such as organizational culture, goals, objectives, vision, mission, personal values & beliefs, etc.

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Ashish Sharma, MBA (IP)
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  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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