ADOPTION OF MANAGEMENT DECISIONS
ADOPTION OF MANAGEMENT DECISIONS

Author(s): Gulzira SERIKOVA, Karlygash Kenenova, Almagul DOSHAN, Murat NURGABYLOV
Subject(s): Economy, Business Economy / Management, Micro-Economics, Accounting - Business Administration
Published by: ASERS Publishing
Keywords: decision-making; methods; payment matrix;
Summary/Abstract: Decision making is the mental process of choosing from a set of alternatives. Every decision-making process produces an outcome that might be an action, a recommendation, or an opinion. Since doing nothing or remaining neutral is usually among the set of options one chooses from, selecting that course is also making a decision. While they are related, problem analysis and decision making are distinct activities. Decisions are commonly focused on a problem or challenge. Decision makers must gather and consider data before making a choice. Problem analysis involves framing the issue by defining its boundaries, establishing criteria with which to select from alternatives, and developing conclusions based on available information. Analyzing a problem may not result in a decision, although the results are an important ingredient in all decision making.

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