Write about Management and the Decision Making

Introduction
Before trying to get an in depth view of the management and the decision making, it is very necessary to completely understand the meaning of the word ‘Decision’. Decision can be defined as the choice that is usually made from the various available alternatives. For making a correct and the best decision, the role of the management information system is very much critical and necessary.

With the help of the management information system, one is helped a great deal in making the very effective and the efficient decision making. These decisions must be taken in a very good sense as a lot depends on these decisions; actually the whole organization is linked a great deal to these decisions. The decisions are actually made or taken by the managers or by the different members of the management and these are made by the various levels of the management and at different types of the stages that creep in during the ongoing process.

But there is a slight difference in the decisions that are taken by the different levels of the management; the decisions taken at the lower level of the management are actually very structured in the nature but the decisions that are taken at the middle level of the management are both structured as well as un–structured in the nature. But the decisions that are actually taken on the top level of the management are completely unstructured in the nature.

For making any type of the decision at any type of phase that occurs in any type of the process, involves the use of the different types of the tools, these tools provide a great help to the managers or the management.

Management – Definition and the Meaning
Management is defined as the process involving the planning, leading, organizing and controlling the different resources of an organization in an effective and efficient pursuit of the specified organizational goals. Management sometimes is also referred to as the art of getting the things done through the people. The survival, success and the prosperity of the organization depends a lot on the Management and also on the way by which the Management works and controls everything. In the Management, a lot depends upon the manager and the way he works and performs everything. So before going any further it is very important and necessary to completely understand the meaning of the word ‘manager’.

A manager is defined as an individual, who is responsible for the achievement of the various organizational goals and is also responsible for motivating the other employees or the individuals to perform at the best of their abilities.

Now days there exists an environment of the technology and in such a scenario the Modern management has a very important and key role to perform and that too in a very efficient manner. So it can be said that the Modern management in today’s world has become more of a science than an art.

Modern management now can be referred to as the science which depends a lot on the management information system. The various business operations should be handled very carefully with the help of the skills and the foresight; this forms the basic need of the business complexity and the competitive nature of the business.

In the modern management, there occurs a drastic shift from the traditional controls to the managerial controls. The major responsibility of the management is mainly to utilize the various available sources in a proper and a very effective way. These resources may be human, financial and physical in the nature. In the management, the manager’s efficiency increases if supported well by the management and if he personally possesses a good base of the knowledge along with a good experience and the analytical skills.

One of the major concepts underlying the modern management is the proper control of the resources. It involves doing the right things and that too in a very efficient manner. So in this way, the Modern management helps in managing the work, managing the people and also in managing the operations in a very effective manner and all this has direct affect on the performance and the success of any organization or company.

Decision Making
As explained above, a decision can be defined as the choice that is made from the several options by the decision maker that at some time helps the decision maker to achieve some of the objectives set by him during any operation. A decision acts as the very important managerial function and the decision making is said to be efficient if is supported by the following factors or the characteristics –

1. Sequential in the nature.
2. Influenced by the personal value.
3. Exceedingly complex in the nature because of the various risks and the trade offs.
4. Should be made in the institutional settings and the business environment context.

In an organization, the structure of the processes is such that the decisions need to be taken at various levels of the activity and these decisions affect the whole process a lot and ultimately the whole organization and is success is affected by the decisions that are finally made. The decisions that are made at the various levels can at times differ in the content, risk involved, complexity and the various implications. The decision that is made should be very efficient but this all can only be achieved if the person or the group of the persons is very much efficient having a very good knowledge and also the experience, with a good status of working for the company.

Decision Making Environment
A suitable environment is very much important and necessary for taking a proper decision and that too at a suitable time. An environment is ambiguous when some particular problem is not very clear or the goal that is to be achieved is not clear in the mind and hence it can be said that due to all this, the outcome will also not be clear. The certainty environment is the environment which involves the relationship between the inputs and the outputs i.e. the environment in which the result is known. The uncertainty factor creeps in when there is no awareness about the resources, input / output relations and the outcome also is not known.

Another type of the environment is the one where the result is not known and it may result in some profits but at other times losses can also be obtained and such an environment is referred to as the Risk environment.