Naslov
Nature of Managerial Decision Making Along the Continuum of the Decision Making Pyramid

Autori
Pavić, Ivana

Izvornik
The business review, Cambridge (1553-5827) 10 (2008), 2;

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
managerial decision making; decision making pyramid; Croatia

Sažetak
Decision making is immanent to any managerial function, because managers are not only administrators. By profession they are decision makers. Having that imperative their importance for organizational existence is not doubtful. Managerial decision making is not easy to describe because managers largely use intuition, instincts, feelings and judgments in everyday decision making (Harrison, 1999), avoiding hard systematic thinking and analysis of data, relying more on intuitive judgment (Tipuric, Prester and Hruska, 2003:366). But the framework for understanding managerial decision making lies in the piece of evidence that managerial work is largely the work of making decisions. What is more important is the fact that since management realizes itself through decision making processes, (Harrison, 1999) with the purpose of fulfilling various business tasks, managers have to act rationally in dynamic and turbulent settings. They, as decision makers, are expected to implement a high level of decision making quality, which depends on a variety of factors: managers' knowledge and experience, their ability to grasp and understand a problem, ability to analyze and synthesize, on one hand, availability of information in their environment and their use of decision making techniques and methods, on the other hand. Different levels of management (on management pyramid) use different approaches to the decision making process what implies the existence of the decision making pyramid.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA