Decision Making in Modern Organizations

Introduction
Decision-making is the critical key to the survival of an organization, more so in this present time where we see economic boundaries between countries crumble and businesses become more complex, global and knowledge-driven. Managers need to ensure that their organizations are continuously innovated and improved in order to achieve and maintain a sustainable competitive edge. In fact, Potter (1985) highlighted that it is this competitive ability which is considered to be at the core of the success or failure of a firm. Managers realize that if their organizations are to surviv…