This chapter is concerned with how decisions about an organisation’s future are made. It has been a common misconception that planning and decision-making are the same thing. This is not the case as should be apparent from earlier chapters of this book. Making decisions about the future is simply one of the tasks within business planning. A great deal has been written about decision-making techniques for business and it is the purpose of this chapter to show how a variety of decision-making approaches can be useful within business planning. It is not intended to give an exhaustive and detailed description of decision-making techniques. If readers are interested in following up particular aspects of decision-making the references at the end of the chapter should prove useful.
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Recommended key readings
- Steve Cooke and Nigel Slack, Making Management Decisions (Prentice-Hall, 1984).Google Scholar
- C. Gilligan, B. Neale and D. Murray, Business Decision-making (Philip Allan, 1983).Google Scholar
- P. G. Moore, Basic Operational Research (Pitman, 1976) 2nd edn.Google Scholar
- Ray Wild, Production and Operations Management: Principles and Techniques (Holt, Rinehart & Winston 1984) 3rd edn.Google Scholar
- Terry Hill, Production/Operations Management (Prentice-Hall, 1983).Google Scholar
- Brian Ogley, Business Finance (Longman, 1981).Google Scholar
- B. K. R. Watts, Business and Financial Management (M. & E. handbooks, 1984, 5th edn).Google Scholar
- D. R. Myddleton, Financial Decisions (Longman 1983) 2nd edn.Google Scholar