Value of the decision-making mechanism in business management

Abstract

The article discusses the essence and significance of the decision-making mechanism in business management. Highlighted and given the characteristics of the main components of management decisions, which largely determine the assessment and selection of the optimum strategy for managing the activities of the organization. The assessment of the influence of the internal and external environment of the company both on the process of making a managerial decision and on the quality of the decision itself is given. The stages of the mechanism for making managerial decisions are investigated and, depending on the level of decision making, only the steps are considered that are required to solve the managerial problem. Methods or groups of methods are identified that are most effective at each stage of the process, both on the basis of assessing their advantages and disadvantages, and systematization and generalization of theoretical and practical experience. Studies have shown the dependence of the level of managerial potential, which determines the quality of decisions made, on the managerial level, professional competencies of the manager. It is concluded that it is required to use an integrated approach based on a systematic analysis of the assessment and selection of optimum business management methods at each stage of the business management decision-making process.