Summarize the major steps in the managerial decision-making process.
Summarize the major steps in the managerial decision-making process.
The organization's primary objective will be to have a proper flow of business process, and to increase the profitability of the organization. This is possible with the help of proper planning, and coordination among the employees of the organization.
To have sustainability in the dynamic business environment, entrepreneur should incorporate changes in the business process to cop up with the changing environment. Or else, the company will be outdated, and cannot compete with other competitors in the market. Hence change is becoming essential in current business environment.
It is the duty of the manager to act as a bridge between the top management and employees and to communicate the decisions taken by the top management to the employees. Also the management in the organization should address the grievances of the employees by escalating them to the top management.
The employees will be supplied with their requirements, and the management will address the grievances of the employees quickly. The employees should be selected based on their talents, and ability to complete the assigned tasks effectively.
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