Decision-making has a wide-range, covering matters from selection of the venue for holding a meeting, to significant issues such as, assignment of resources, hiring and firing of personnel, rate of dividend, merger, etc.

Decision-making is not the monopoly of top management alone, though it is true that decisions made at this level are of far-reaching importance for the organization as a whole.

In fact, managers at all levels are engaged in decision-making of one kind or another, the significance of their decisions differing in proportion to the duties assigned and authority delegated to them.

The techniques of decision-making may be classified as:-

1. Non-Quantitative Techniques

2. Quantitative Techniques

3. Traditional Techniques

4. Modern Techniques

A: Some of the non-quantitative techniques of decision-making are:-

1. Intuition

2. Experience

3. Experimentation

4. Brainstorming

5. Synectics.

B: Some of the quantitative techniques of decision-making are:-

1. Operations Research

2. Marginal Analysis

3. Correlation.

C: Three common traditional techniques for making programmed decisions are:

(a) Habits

(b) Operating Procedures

(c) Organisation Structure.

Traditional techniques used for making
non-programmed decisions are:

(a) Judgment (b) Intuition (c) Creativity

Modern Techniques for making Programmed Decisions are:

(a) Break-Even Technique

(b) Inventory Models

(c) Linear Programming

(d) Simulation

(e) Probability Theory

(f) Decision-Tree

(g) Queuing Theory

(h) Gaming Theory

(i) Network Theory.

Modern Techniques for making Non-Programmed Decisions include:

(a) Creative Techniques

(b) Participative Techniques

(c) Heuristic Techniques.

D: The most commonly used decision making techniques are discussed:

1. Marginal Analysis

2. Cost Benefit Analysis

3. Risk Analysis

4. Linear Programming.