Decision_Making

Decision Making INTRODUCTION The purpose of this paper is to analyze the decision -making process that was involved in appointment of company president, in the company where I personally worked. Mr.Zutshi, the company president faced a very critical decision making situation while appointing new successor for the company, after his retirement. A Chief executive officer's decision has considerable impact on the performance of the organization. Decision-making is one of the most important recurring responsibilities facing managers in organizations. A high-quality decision helps an organization accomplish its strategic goals and also meets the needs of the organization's employees, executives, stockholders, consumers, or suppliers. In his book called "Decision Making," Paul Moody (1983) defines decision " as an action that must be taken when there is no more time for gathering facts." The Problem is how to decide when to stop gathering facts. The solution varies with each problem we attempt to solve, for gathering facts costs time and money. RELEVANT RESEACH Peter E. Druker (1967), lists five elements of decision process in his book, The effective Executive:1) Clear realization that the problem is generic and can be solved only through a decision that establishes a rule, 2) Definition of the specifications of the solution, or decision, board, president, making, process, company, decisions, should, organization, time, mr, zutshi, one, information, decision-making, book, problem, new, member, very, manager, make, important, effective, best, because, situation, question, members, between, action, way, people, needs, mrzutshi, made, given, evidence, critical, ambiguity, almost, 1983, whole, view, uncertainty, top, succession, succeed, strong, strategic