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In the competitive world, business organisations, in order to survive need to focus on the proper decisions such that the resources can be allocated in an effective manner and the goals of the organisation can be achieved efficiently. Decision-making is a process with the help of which the organisation chose a selective course of action among a number of available possibilities with an aim to generate profit. It is considered as the major and important activity for a business organisation as it includes a huge amount of resources that are implemented for the accomplishment of task. For the decision to be taken in effective manner complete information about alternatives should be available such that best course of action can be selected. With the help of effective decision, various businesses related issues can be solved efficiently. For a business organisation to gain success, decision-making and problem solving is considered as the on going process. Various research scholars have stated that decision making and managing an organisation are used synonymously. Decision making is considered as the central activity responsible for the growth and development of organisation (Nutt and Wilson, 2010).
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