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A PROBLEM is a discrepancy between a desirable and an actual situation. However decisions don’t always involve Problems (for example, deciding what to buy your friend for her birthday is not, strictly speaking, a “problem”). On the other hand, the problem-solving process is the same as that for making decisions. It is “the process of developing and analysing alternatives and making a choice.”

We will, therefore, use the terms decision making and problem solving interchangeably. JUDGMENT refers to the cognitive, or “thinking” aspects of the decision-making process. Decision making is often subject to distortions and biases, precisely because it is usually a judgmental, not a mechanical process.

DECISIONS are a big part of everything managers do. Planning, organizing, leading and controlling are the basic management functions.

Everyone continually faces the need to choose – the route to get to work, the job to accept, or the strategy to pursue.

A DECISION is a CHOICE from among the available alternatives. DECISION MAKING is the PROCESS of developing and ANALYSING alternatives and making a choi.