Types of Management Decisions

Decision Making

Management make many decision to run the business. The management make variety of decision from the short term day to day operational decision to strategic level investment decision. The important aspect of decision making is to choose among alternatives.

Types of Decisions

The management need to make variety of decision. Following are the few type of decision for reference only.

1. Investment Decision
2. Lease or Buy Decision
3. Production
4. Pricing Decision

Decision Making Process

The typical decision making process include

1. Collection of Relevant Data
2. Analyzing Data
3. Explore available options
4. Choose an option
5. Implement the Chosen option
6. Monitor the Result.