Decision making is the process of selecting best course of action out of many available alternatives.
In other words, Decision making is the process of identifying and choosing alternative course of action in a manner appropriate to the demands of the situations.
• It is intended to solve organizational problem through developing, evaluating and choosing alternative course of action.
• It is continuous and pervasive managerial functions.
• Setting goals, formulating plans, formulating strategies, formulating policies, assigning jobs, etc. are some examples of decision making.
Nature/Features of Decision Making:
- Continuous and Pervasive Function
- Selective process
- Human and Rational Process
- Dynamic Process
- Goal Oriented Process
- Continuous Process
- Freedom to Decision Maker
- Positive or Negative Impact
