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Examines some of the theoretical models of human decision making derived from the field of psychology and considers some of the important issues this raises for training in decision making. Discusses a small selection of results from a fieldwork investigation, which examines hotel managers′ cognitive decision‐making processes. Ends with a discussion of possible suggestions for training in decision making which utilize psychological theories.

The purpose of this paper is to present a conceptual framework for merging the strategic management process, the managerial decision‐making process and the six‐sigma process into a single, unified decision model.

The methodology involves each of the three decision‐making processes, noting their similarities and differences, and arguing from the similarities that a single unified model will result in superior decisions.

The findings were that a single, unified model is possible and the resulting model is presented in the paper.

Since this research results in a conceptual model only, it remains to be tested in actual practice. This testing is intended for a later paper.

If the testing of the model in practice results in superior decisions, the practical implications of the paper would be use of the Friday‐Stroud/Sutterfield model in practice for better management decisions.

The paper presents an original model, which results from merging the three‐decision‐making process.

Reports a study of the use of information for decision making by administrative staff at the Delta State University, Abraka, Nigeria. It explores the working experience of the respondents, sources of information for official decision making, areas of decisional information use, frequency of utilisation of adequate and relevant information for decision making, and problems encountered by the administrators while seeking information for making decisions. Concludes with recommendations which could help administrative staff improve their use of information for decision making.

The purpose of this paper is to discuss some of the primary factors that inhibit efficient decision-making in teams and propose some methods to help facilitate the process more effectively. Teams often have a difficult time navigating the decision-making process. Even with a well-defined process, decision-making can be derailed by failing to set and maintain priorities or by ineffectively evaluating the significance of individual decisions that need to be made within the larger project scope.

This article reviews some of the applicable literature related to decision-making and synthesizes it into an approach that can be used by teams to facilitate their decision-making processes.

There are three major impediments to efficient and effective decision-making in teams. Using methods for diagnosing and triaging the nature of decisions, teams can become more effective and efficient in their decision-making processes.

This article synthesizes a number of strands of research from various subdisciplines in management to develop an approach that can be used by project teams to more effectively facilitate their decision-making processes.

Reports the results of a field study on managerial decision making and competence utilization in Chinese enterprises. The results showed that the participative decision making had positive effects on both morale and decision quality and that the decision skill utilization had a very close relationship with job satisfaction. It also demonstrated that the measure of influence/power‐sharing was an appropriate indicator for decision‐making patterns in the Chinese circumstances. Discusses implications of the results and proposes a process model of managerial decision making.

The purpose of the research is to determine the signs of nonoptimality of managerial decisions that are made by Russian business systems and to determine the barriers on the path of making of optimal decisions in business systems by the example of modern Russia and perspectives of overcoming them.

The information and empirical basis of the research consists of statistical materials of the World Economic Forum, RIA Rating and Samuel Centre for Social Connectedness for 2018, according to which signs of nonoptimality of managerial decisions of Russian business systems, which are observed at the macro-level, are determined. During the research, the method of systemic, problem, and logical analysis (analysis of causal connections) and the method of formalization are used.

It is determined that drawbacks of the process of making of managerial decisions in modern Russian model of this process, connected to the functional organizational structure, low marketing activity, and underdevelopment of internal business communications, create barriers on the path of making of optimal decisions: high expenditures for making of managerial decisions, duration of the process of making of managerial decisions, high complexity of choice of alternative decisions, and incomplete accounting of possibilities and problems during decision-making.

Perspectives of overcoming the determined barriers are connected to the usage of outsource during the making of managerial decisions, refusal from functional organizational structure of managerial staff, usage of means of authomatization of making of managerial decisions, and development of systemic feedback and marketing. According to the studied practical experience of the largest and well-known Russian business systems – Rosneft, Lukoil, Gazprom, and Sberbank – these perspectives (2018) are not implemented in Russia.

The aim of this paper is to present the necessity for practical wisdom in the managerial decision making process and its role in such a process. The paper seeks to contrast the position with two conventional approaches based on maximizing and satisficing behaviors respectively.

Following Aristotle and Thomas Aquinas it is argued that a correct decision should consider an “integral rationality” which includes not only “instrumental rationality” but also “practical rationality”. The latter permits the evaluation of both means and ends from the perspective of human good. Practical wisdom helps the decision maker to determine how a decision will contribute to the human good in each particular situation.

Maximizing and satisficing behaviors are based on the facts‐values dichotomy, which separates business and ethics and presents a rationalistic and incomplete view of the reality. The alternative presented here sees the decision as a whole, and this is a more comprehensive understanding of the reality. Ethics is better integrated into the decision making process, since it is an intrinsic part of such a process, not an extrinsic addition.

Every decision has an ethical dimension, which should be considered by managers for making good decisions. Practical wisdom is essential in perceiving such a dimension and in making sound moral judgments in the making of decisions. Managers do not need only skills for making correct decisions, but practical wisdom and moral virtues, too.

The approach presented in the paper defeats the conventional but narrow views of managerial decision making based on maximizing behavior or on satisficing behavior and introduces the categories of good and evil as the main driver for managerial decision making.

Purpose: The purpose of the chapter is to analyze the experience of managerial decisions in modern North American business systems, to develop an American model of decision making in modern business systems, to determine the possibilities of making of optimal decisions according to this model, and to substantiate the perspectives of its improvement.

Methodology: The authors use the methods of systemic, problem, and logical analysis, as well as modeling and formalization.

Conclusions: An American model of decision making in modern business systems is compiled – it is based on divisional organizational structure. This model is contradictory and, like other regional models, has advantages and drawbacks. On the one hand, an important advantage of the American model is making of well-balanced managerial decisions that conform to the interests of all interested parties in the business system (investors, management, employees) and beyond it (consumers, society). This advantage is achieved due to active and systemic marketing, which ensures the fullest consideration of the possibilities of business environment and high adaptability of business systems to its changes. Managers' readiness to take a risk allows them to make nonstandard decisions, thus strengthening the uniqueness and competitive advantages of the business system. On the other hand, high risk component of managerial decisions leads to unsustainable development of business systems in countries of North America and their strong susceptibility to internal and external crises. Another drawback of the American model of decision making in modern business systems is duration of this process due to necessity for consideration of opinions of all interested parties and marketing at all stages.

Originality/value: It is determined that in the conditions of crisis, the American model cannot ensure timely decision making, and this leads to their nonoptimality, which defines the perspectives of improving this model.

In language that the practising manager can use, findings from several years of important research on managerial decision making are summarised. Four major traps of faulty decision making are identified and managers are shown how to avoid these traps and to improve their decision‐making skills.

This paper aims to determine Chinese peasant consumers' decision‐making styles.

The paper reflects on the psychological orientation and decision‐making styles of peasants' purchase of durable appliances. This has the dual character of purchase behavior by the study on factor analysis from a view of peasants' consumption psychology. The consumer style inventory (CSI) was administered in January 2009 to 5,827 peasants in 656 villages in 14 provinces which were selected randomly in China. Both an exploratory factor analysis and a confirmatory factor analysis are adopted to validate the CSI inventory. This results in a 25‐item and eight‐factor solution.

Findings indicate that three consumer segments are formed: confused by over choice peasant consumer; fashion and impulsive peasant consumer; and perfect peasant consumer. The income effect on a farmer's purchasing has a threshold, while income does not reach the limit, income does not have an obvious effect on the decision‐making styles of peasants' purchasing on durable appliances, the category of consumer styles depends on the “individual” factor of peasants' consumption psychology, and their consumption behavior characteristics depend on the grade of psychological orientation and decision‐making styles of the consumer.

The marketing mix of an enterprise should recognize the potential differences of psychology of the peasant consumer. Enterprises should adopt positive marketing strategies in pricing to induce and inspire consumer motivation and behavior, so that enterprises can positively interact with rural consumers and achieve optimal allocation of marketing resources.

This paper decribes the decision‐making styles of Chinese peasant consumers based on their purchasing behavior with regard to consumer and consumption psychology. The effect of annual average income and income source of the family on the consumers' decision‐making styles is not obvious, but the number of people in a family has some effect on consumers' decision‐making styles.