Fundamentals of Decisions
Definition of a Decision
A decision is a choice made between two or more available alternatives. Decision making is the process of choosing the best alternative for reaching objectives. Decision making is covered in the planning section of this text, but because m anagers must also make decisions when performing the other three managerial functions—organizing, influencing, and controlling—the subject requires a separate chapter.
We all face decision situations every day. A decision situation may involve simply choosing whether to spend the day studying, swimming, or golfing. It does not matter which alternative is chosen, only that a choice is made.2
Managers make decisions affecting the organization daily and communicate ...
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