Decision Making: Models, Processes, Techniques

Abstract

Decision-making is one of the steps in problem-solving that can be applied in manifold areas from personal situations to the management of organizations. There are functions and processes to lead to making a decision; however, it may sound complicated to select between decision-making models and approaches as different factors and different outcomes get involved in the decision-making process. This article is a survey of decision-making with managerial insight to explain what it is, what kinds of decisions are made, and how they are applied in many sectors, including computers, management, business, psychology, etc. This paper aims to provide an overview of the decision-making concept, its functions, process steps, and its main types, models, and categories. Overall, it provides valuable insights for individuals and organizations seeking to improve their decision-making abilities.