Managers have to consider the various factors before selecting a course of action. Decision making, process and logic through which individuals arrive at a decision. Decision making is simply a process used by managers in taking action for solving the problem. The decision-making process can be both simple (such as randomly picking out of our available options) or complex (such as systematically rating different aspects of the existing choices). Decision making is the process of selecting a course of action from among many alternatives to solve problems. Overview of Managerial Decision-Making What are the basic characteristics of managerial decision-making? Different models of decision making lead to dramatically different analyses and predictions. Decision making is the one through which managers are able to take right decisions at right time. If we go through the numerous stages of decision-making and the implementation of the decision we shall find that it has certain features, some of which are briefly stated: 1. Main features/nature of decision making are as follows: 1. Decision Making Is A Selective Process. It is an integral part of the management system of a company which aims at improving efficiency. Decision-making is the action or process of thinking through possible options and selecting one.. The standardized process makes the decision making, and problem-solving process easy as information flows in proper order and decision taken by the authority is the final decision. Decision making in simple words refers to selecting one alternative out of several alternatives, in order to have a clear understanding about decision-making process one should look at various features of decision making – Decision Making Features Numerous Alternatives. In one of his writings Herbert Simon has said that decision or decision making “is a matter of compromise”.
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