The Theory of Decision-Making

Kazuhito Isomura ()
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Kazuhito Isomura: Chuo University

Chapter Chapter 5 in Management Theory by Chester Barnard, 2021, pp 55-71 from Springer

Abstract: Abstract The theory of decision-making is mainly related to a common purpose, which is the condition of establishing a formal organization, and to effectiveness, which is the condition of a formal organization’s survival. This chapter first examines the nature of decision-making; in particular, it clarifies the difference between individual and organizational decisions. Then it argues occasions and evidences of decision-making. The chapter subsequently explains the nature of an environment and examines the relationship between purpose and environment. Finally, it explores the theory of opportunism—that is, the theory of strategic factors. This chapter focuses on opportunistic aspects of decision-making, while Chap. 7 of this book deals with moral aspects of decision-making.

Keywords: Thinking process; Individual and organizational decisions; Purpose; Environment; Strategic factors; Successive approximation (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbrcp:978-981-16-2979-2_5

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DOI: 10.1007/978-981-16-2979-2_5

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