12.6: Introduction to Managerial Decision-Making
What you’ll learn to do: Discuss the process of managerial decision-making and the factors involved.
As a manager you are forced to make countless decisions on a day to day basis, many of which have a lasting impact on the success of your company and its employees. Some decisions will require an analysis of the literal monetary costs and their relevance in the decision. Other choices will be made by examining the qualitative factors of the potential outcomes. Most decisions will require a balance of both. Knowing what to look for on both the quantitative and qualitative sides of each situation will help you as a manager make the decision that is best for your company and its employees.