Title: 12 Importance of Decision Making in Business Management - Googlesir
Headings: 12 Importance of Decision Making in Business Management
12 Importance of Decision Making in Business Management
Page Contents
Importance of Decision Making in Management
1. Selection and Continuous Operation of Business
2. Helpful in Determination of Objectives and Achieving Them
3. Maximum and Best Use of Available Resources
4. Execution of Managerial Functions
5. The Success of Overall Institution
6. Technical Changes and Complications
7. Solving the Problems
8. Measurement of Managers Success
9. Less Risk
10. Emphasis on Professionalising the Management
11. Determination of Business Policies
12. To Offset Changes and Uncertainty

Content: 6. Technical Changes and Complications
Consistently ongoing changes in the technical field and the complements of the business world have added to the importance of decision making. Today the risks are much more, as compared to the past and the decision making in present times effects a large number of people and the large volume of capital. Similarly, various sections of the society are also affected by the business decision making, as society is highly interrelated. 7. Solving the Problems
While explaining decision making as the process of solving the problems, it may be said that in this process, we search various alternatives for solving the problems and select the best of them. In this way, the problems may be solved by good and effective decision making. 8. Measurement of Managers Success
The decisions taken by the managers are very important for achieving the objectives and goals of the Institutions because their success or failure depends on these decisions. Importance of Decision Making in Business
If any institution advances ahead speedily on the way of progress, to achieve its objectives and goals, Its managers are regarded to be intelligent, capable and efficient.