How do policies influence the decision making behavior of managers?

Principles of Management
OER 2019th Edition
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax
Chapter2: Managerial Decision-making
Section2.5: Improving The Quality Of Decision-making
Problem 2CC: What are the six steps in the decision-making process?
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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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