How do policies influence the decision making behavior of managers?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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How do policies influence the decision making behavior of managers?
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Introduction
Decision-making is an important aspect of every organization. It is a process of selecting the best course of action from two or more alternatives. Important business decisions are made with the help of the decision-making process. Decision-making is a vital skill to be possessed by every manager.
Importance of decision making:
- Better utilization of resources.
- Achieving organizational goals and objectives
- Better growth rate
- Helps in facilitating innovation.
- Helps in selecting the best alternative
- Formulation of business policies and plans
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