Decision making is one of the important activities of the managerial problems. Scientific methodology for quantitative techniques is an essential tool in the contemporary decision making protocols. In this paper an attempt is made to develop a stochastic model on manager’s performance appraisal. Managerial choice among the available options for decision making is formulated to obtain the stocha...

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...

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...

This paper addresses the influence of managerial decision-making processes on the evolution of industries. Managers face very complex investment decisions due to uncertainties about customer acceptance, market size, technology, actions of competitors, and a dynamic complex feedback system. Managerial decision-making processes are almost the most influential variable to manipulate the evolution ...

An examination of the literature on managerial decision making provides insights for improving the design of Declslon Support Systems. Frequently, these systems are designed using one dominant decision making model; some ignore them altogether. This paper incorporates conflicting decision making constructs into an overall framework for designing Decision Support System and discusses the evoluti...