Optimal Decision-Making Strategies for Managers: Navigating the Rational, Behavioral, and Practical Approaches

Decision Making Approaches for managers. Student’s Name Institution Affiliation Instructor’s Name Course Number Date Making decisions by managers is a constant norm in problem solving and executing organizational goals. The decisions significantly impact organizational performance and its stakeholders. Decision making is one of the most primary functions in the modern management and a critical aspect that requires understanding of the various managerial decisions and the context in which decisions can be made (Burko 2021). There are various decisions including; tactical, strategic, and managerial decisions. Strategic decisions occur at the highest level of the organization and define organizational objectives and strategies. Tactical decisions are executed in achieving organizational objectives and goals while operational decisions entail customer relations in service delivery. Decision making is not easy and entails choices and selecting between the alternative courses of action. Managers use various decision-making approaches to quicken the process. Managers consider the cost and benefits of the approach, the advantages and disadvantages, and alignment with their preferences (Games & Romao 2017). There are various types of decision making and managers have different tactics based on the problem. There are those decisions managers make based on their intuition and personal experience, and there are those that a manager bases on problem evaluation and execution of rational and logical facts in the final process. This essay will discuss three types of decision-making approaches including the rational, behavioral, and the Practical approach. Rational approach entails the use of observational and analytical steps in a review of relevant facts and ideologies in a systematic manner before choosing a particular course of act