IMPROVEMENT OF PROCESSES OF MAKING MANAGERIAL DECISIONS
Keywords:
Managerial decision-making, big data analytics, decision-making frameworks, cognitive biases, organizational agilityAbstract
Managerial decision-making is a critical function that drives organizational success in an increasingly complex and dynamic environment. This article explores strategies to enhance decision-making processes by integrating technological advancements, such as big data analytics and artificial intelligence, with human-centric approaches emphasizing intuition, collaboration, and ethical considerations. It highlights challenges, including cognitive biases, information overload, and external uncertainties, while proposing frameworks like the Rational Decision-Making Model and the Cynefin Framework to improve decision quality and agility. The article also emphasizes the role of continuous learning, feedback, and ethical responsibility in refining managerial capabilities. These insights aim to empower organizations to make informed, strategic, and impactful decisions, fostering sustainable growth and innovation.
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