How do policies influence the decision making behavior of managers?
Chapter2: Managerial Decision-making
Section2.5: Improving The Quality Of Decision-making
Problem 2CC: What are the six steps in the decision-making process?
Related questions
Question
100%
How do policies influence the decision making behavior of managers?
Expert Solution
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
Step by step
Solved in 2 steps
Recommended textbooks for you
Foundations of Business (MindTap Course List)
Marketing
ISBN:
9781337386920
Author:
William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:
Cengage Learning
Foundations of Business - Standalone book (MindTa…
Marketing
ISBN:
9781285193946
Author:
William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:
Cengage Learning
Foundations of Business (MindTap Course List)
Marketing
ISBN:
9781337386920
Author:
William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:
Cengage Learning
Foundations of Business - Standalone book (MindTa…
Marketing
ISBN:
9781285193946
Author:
William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:
Cengage Learning