Decision making case study Essay

Is decision making a science or an art? Perfectly diplomatic answer is ‘No one knows, really’. If it is to be assumed as a science, then it should be governed by a set of universally acceptable and applicable principles. Are there such principles? Not, really. If it is to be accepted as an art, one should perfect it with practice. Did it ever happen that way? Not, really. That is precisely the probable reason why there’s no structured course yet in any MBA Programme across the globe. Barring aside a few unstructured modules here and there, there is not a single and sophisticated course on decision making. And that fact is quite a revealing. After all everyone associated with any organized human activity (partnership, NGO, Joint Venture, small scale enterprise, a medium scale enterprise, No.1 company in any country, No. 1 company in Fortune 500 list or any company in any country for that matter) makes decisions. How decisions are made? Is there any difference between a wrong decision and a bad decision? What are the prerequisites for effective decision making? How do personal traits influence decision making? This book on decision making helps to understand such questions and has a collection of articles and interviews that highlight the importance and significance of decision making. In this book, many international experts share their views on effective decision making and give insights about decision making in different industries