Decision-making: Theory and practice

The emphasis is on investigating an aspect of managerial decision-making style with the potential to enhance managerial performance. In this context, it is important to examine the relat ionship between decision-ma king styles with conflict handling. Th is study focuses primarily on exp loring the role of conflict management used in the organizat ion as predictors of decision-making styles. The Data collected fro m 307 executives belonging to banking sector fro m West Bengal, India. The Data analysed using descriptive and simp le regressions analysis techniques. Results suggest that conflict-handling style used in the organization in addition to decision maker's education and management levels are good predictors of decision-making styles in such an environment. Results also indicate that a tendency towards the analytical style prevails among managers. Further, the implication o f the contribution made by this study to the body of management theory and practice discussed.

Oxford University Press eBooks, 2008

This article examines the effectiveness of methods that are designed to provide structure and support to decision making. Those that are primarily aimed at individual decision makers are examined first and then attention is turned to groups. In each case weaknesses of unaided decision making are identified and how successful the application of formal methods is likely to be in mitigating these weaknesses is assessed. decision making, decision process, effectiveness of methods, individual decision makers, evaluation of methods, formal methods

The Joint Command Decision Support for the 21st Century Technology Demonstration (JCDS 21 TD) project investigates individual and organizational factors, as well as technology, with respect to decision making. As part of the JCDS 21 TD work plan, it is necessary to gain an understanding of current scientific research on human decision making, individual differences, and the potential to identify consistent individual preferences for specific decision making styles. Research has indicated that a variety of individual factors affect the way in which people make decisions. In addition, individual strategies can be more or less suited to different kinds of task domains. Thus, it is important to develop an understanding of the individual differences in decision making strategies or approaches. This work seeks to identify separate decision strategies within an organized categorization scheme that is based on empirical research. This framework will serve as the basis for exploring the indi...

Decision Making is one of the principal processes in every organization and is considered the main responsibility of managers in all levels. It is the manager's decision making capability that determines the success or the failure of an organization. A manager views the decision-making is a core-central task. He (she) should continuously opt what to do, when and where to do and even how to do. Decision making style is often conceptualized as an individual's preferred mode of Rational, Intuitive, Dependent, Avoidant and Spontaneous. Considering the fact that one's decision making could affect the effectiveness of an organization, the researchers embarked on the current study with the aim to explore and identify decision making styles adopted by the managers of Tamil Nadu State Transport Corporation (Coimbatore) Ltd.

This paper examines decision making, its features, kinds, models, theories and importance of decision making in management, it view decision as the heart of success in every organization, and explains times of critical moments when decision can be difficult, confusing, and nerve racking. It further extend view on decision-making and even the various alternatives that worth to be considered when making decision in businesses and libraries. And further concluded to hold the view of other studies by classifying decision making into either rational or non-rational. 2

International Journal of Science and Business, 2019

Decision-making is fundamentally a function of a company's top members' prerogative. Any success attributable to an organization depends wholly on the choice of its management styles and their grasp of administrative decisions and approaches to decision-making. Decision makers therefore, need to understand the concepts that ensure rationality and effectiveness in decisions; clarity in decision, time, work, and implementation and in follow-up evaluation needs to be taking into cognizance. Any style so adopted by management is seen to be the adhesive that binds diverse operations and functions together. It is the philosophy or set of principles by which the manager leverages on the workforce. Every organizations needs a better insight on the approach managers adopts in solving real life organization's problems. This paper is a theoretical paper and accessed and explored related literature. The research demonstrated that there are series of management styles which influence decision making styles. Hence, the paper concluded that; management style suggestively affects the degree of decisions made by both individual employees and the management team in an organization.

The objective of this study is to test the effectiveness of various decision making styles in the decision-making process. Four broad categories of decision making styles are utilized in this simulation study. The methodology is illustrated with a complex, semi-structured problem often used to train and evaluate management personnel. In order to test the efficacies of these styles, two prototype systems will be constructed. The Decision Support Systems architecture serves as a control and the Just-in-time intelligent Decision Support Systems as the experimental architecture. The experiment will test whether the use of either of the two systems offers a significant improvement in the process of and outcome from the four decision-making styles. The paper closes with a conclusion on the results of the experiment and their implications on Information Systems Research in relation to the decision making process.

2018

This research examines the factors that affect the selection and implementation of strategic decision-making tools. Following a literature review, thirty five tools classified into three categories, and a set of factors related to decision-maker characteristics, are analyzed and investigated. According to the research model, three main hypotheses are formulated and tested. The results are discussed in terms of the importance of tools in strategic decisionmaking. Two main hypotheses out of three are supported, hypothesis one which focused on the variation of decision-maker characteristics’ effect on the selection of specific strategy tools, and hypothesis three which focused on the effect of awareness of different strategic decision-making tools on the selection of these tools, while hypothesis two regarding strategic decision-makers’ preference to select simple and easily applied tools, was not supported.

Managerial Competencies for Multinational Businesses

Decisions are choices. Decision making is the essence of management. Managers make decisions every day and the practical implications of such decisions are key to the success of the company. After reading this chapter, managers, or those who are preparing to be managers, should be better able to do the following: (1) understand the extent to which such organizational characteristics as structure or technology affect decision making, (2) see why the complexity of task environments determines the decisions being made by managers, (3) define and manage certain strategic organizational capabilities such as learning or absorptive capacity, (4) think about cognitive and non-cognitive human capital characteristics that play a role in decision making, and (5) be aware of the impact of culture on decision-making processes. Understanding these aspects will help you develop a deeper understanding of the role and importance of decision making, not only in the domestic market but also internatio...

European Journal of Operational Research, 2007

Support tools for strategic-level decision-making have become increasingly popular. This study investigates the role of OR/MS tools in today's strategic-level decision support tool market. Executives working in Finland's 500 largest companies were asked about the decision support tools they use when making major decisions. The responses received indicated that executives actively use a variety of tools, and an average of five different strategic-level tools. Approximately 10% of the tools used could be identified as OR/MS type, these often suit the needs of larger companies with strategic logistical or production functions and compared to other tools, have a specific profile. Executives see advantages in using tools that provide cognitive, collaboration and communication possibilities, and also in using tools that make processes more efficient. OR methodologies have influenced some of the other tools on the market, but 'soft OR' tool usage could not be identified. Tools which support creativity are needed.