Managerial Decision Making

Managerial Decision Making

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The role of intuition in managerial decision-making: Islamic approach

Current theories argue that decision making is largely based on quick and intuitive processes.The results of study on topping organizations show that successful decision-makings are intuitive rather than rational. Therefore in recent years the issue of intuition and intuitive decision making as an effective management has attracted increasing attention in scientific circles and world-class rese...

Behavioral models of managerial decision-making

This paper reviews the literature that applies behavioral economic models to managerial decisions. It organizes the literature into research that focuses on alternative utility functions and research that focuses on non-equilibrium models. Generally, behavioral models have seen less application to manager decisions than to consumer decisions and therefore there are many opportunities to develop...

Practical Managerial Decision Making Tools: Operations Research

The purpose of this paper is to advocate the managerial practice of making decisions based not only on intuition, but intuition coupled with quantitative analysis. Operations Research (OR) or Optimization is one of the leading managerial decision science tools used by profit and nonprofit organizations such as Ford Motors, AT&T, Merrill Lynch, Samsung, US Army Recruitment and Olympic games orga...

Social-Organizational Knowledge and Managerial Decision-Making