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Management Decision

the result of analysis, forecasting, optimization, economic justification and selection of an alternative from a variety of options for achieving a specific goal of the management system. In management psychology, it is considered as a complex cognitive process that includes the formulation of a problem, the search for alternatives, their evaluation, choice and implementation. The quality of decisions depends on the competence of the manager, the completeness of information, the time for making a decision, and organizational conditions. Effective decisions are characterized by reasonableness, timeliness, and feasibility.

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