Why Decision-Making is a Prerequisite Skill for Managers?
In the corporate world, decision-making is considered a crucial element of the business. Even a supervisor serving at a low-grade level is expected to make numerous decisions every day at workplace. In some companies, workers are encouraged to make decisions in various circumstances. This article will summarize various reasons that make it important for the managers to develop strong decision-making skills for the proper completion of business functions.
Execution of supervisory function:
No manager can conduct business functions including planning, managing, supervisions, and staffing unless he demonstrates smart decision-making skills. To put it more simply, the functioning of employees is dependent on the decisions taken by the managers. Therefore, the implementation of supervisory functions is correlated with strong decision-making.
Frequency of decision-making:
A manager is supposed to make various decisions every day concerning management and other business-related activities. The pervasiveness of this element can be understood by realizing that no business function can be executed without decisions.
Assessment of performance:
Managerial performance can be easily evaluated by considering the appropriateness of decisions. The qualification, ability, and efficiency of a manager are reflected in the decisions he makes. In the similar fashion, wrong decisions help organizations identify incompetent managers.
Planning and policy-making:
Decisions are made for the execution of plans and development of organizational policies.
Best alternatives’ selection:
Managers employ decision-making skills for the selection of best alternatives. The fact that there are a lot of alternatives concerning every function makes management a tricky and smart business. Therefore, a manager can only succeed if he chooses the best alternative out of the available choices.
Successfulness of business operations:
The triumphant position and reputation of an organization is also dependent on the decisions made by its management.