Decisions, Decisions, Decisions

Abstract

Herbert Simon, the father of the decision-making discipline, wrote that “the work of managers (…) is largely work of making decisions” (Simon, Academy of Management Perspectives 1:57–64, 1987). One would say, then, that management science should have a clear idea of how managers decide, individually and in groups. Decision-making is classically understood as a logical process that goes through analyzing the situation, generating alternatives, evaluating the possible outcome and consequences of these alternatives in light of the objectives, and choosing the best solution.