Question

1. Decision Making and Management Effectiveness Why do you think decision making is considered a fundamental part of management effectiveness?

2. How to Compensate for Relative Lack of Experience As a new, entry-level manager, how important is it for you to find ways to compensate for your relative lack of experience when trying to determine which alternative before you is most likely to succeed? What are some ways you can meet this challenge?

3. Using Social-Networking Sites to Help Market Your Products If you were a manager in charge of new product marketing, what are some ways you might harness the power of blogs and social-networking sites to help market your latest products?

Answer 1

Decision making is considered as an important function of management. Decision making is essential in each and every field, where there are multiple options to solve a problem. In business there are lot of alternatives to solve a problem, so decision making is essential to choose a particular option to solve problem. Decision making is an important element of management effectiveness because the performance of the company is dependent upon the decision taken by the management. Good decisions result in growth of the company where as bad decisions bring loss for the company. Decision making is the process of identifying the right solution for a particular problem at the right time. It plays a crucial role in achieving organizational goal within a given period of time. The best decision is made by selecting the best alternative from a set of alternatives to achieve the organizational goals.

Decision making is important to motivate employees to work. It is the manager who decides how to motivate employees. With good decision making, organization resources can be properly utilized.   

So, in order to get effective management, managers need to understand the importance of decision making as well as right decision making at right time.