Decision Making : An Essential Skill Of A Productive And Successful Manager

Decent Essays
Decision-making is an essential skill of a productive and successful manager as it has direct impact on the organization and team. Decision-making is the process of ‘selecting an alternative from among choices that are accessible.’ There are three main models of decision-making, these include rational, intuition and bounded rationality model. These provide an effective option of dealing with decision-making, and also helps to build support for the final decision and active commitment to that decisions implementation. In addition to decision-making models, there are 8 steps of decision-making process, which can also create a positive outcome. Managers must always evaluate previous decisions and create alternatives in order to create a more successful future. Improving individual skills can also improve the performance of the business. In order to select the most successful and effective decision, it is significant to follow a decision making process which evaluates all alternatives and to conclude the best alternative. The decision making process is divided up into 8 parts. The first step is identifying the problem, followed by identifying decision criteria, which can establish the steps to follow on how to solve the problem or issue. The next step is analyzing the problem and allocating the weights to the criteria. This includes collecting relevant information and trends in order for it to be analyzed according to the complexity and nature of the problem addressed. The
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