EFFECTIVE
DECISION-MAKING AND ORGANIZATIONAL GOAL ACHIEVEMENT IN A DEPRESSED ECONOMY
James
Nwoye Obi and Edwin Agwu
Department
of Business Management
Covenant
University, Otta, Ogun State, Nigeria
E-mail: james.obi1@covenantuniversity.edu.ng,
edwin.agwu@covenantuniversity.edu.ng
ABSTRACT
Effective
decision-making occupies key position in the life of an organization be it a
public establishment or a private corporate entity. On daily basis, executives and leaders make
multiplicity of decisions involving the exchange of information, data review, generation
of new ideas, evaluation of alternative courses of action and implementation of
policies. This article examines how
effective decision-making impacts organizational goal achievement especially in
a depressed economy. Descriptive
research method was adopted in the article. Instrument used to gather data was
questionnaire designed on 5-point scale ranging from strongly agree to strongly
disagree. Tables and percentages were
used to analyze the data generated from the questionnaires. Chi-square inferential statistical tool was
used to test the hypothesis of the study stated in null terms as follows:
“cutting-edge knowledge of information technology and relevant data
availability are not essential ingredients of effective decision-making for the
achievement of organizational goals”
The result of the chi-square test showed
that chi-square calculated value (X2 cal 36.5) exceeded the table
value of the chi-square (X2 tab 9.49). The result led to the
rejection of the null hypothesis (Ho) and the acceptance of the Alternative
hypothesis (Hi) thereby lending credence to the fact that effective
decision-making with cutting-edge knowledge of modern information technology and
relevant data availability lead to the achievement of desired organizational
goals. This article is of the view that
the chief executive and top management of an enterprise must seek broad
spectrum of input from both inside and outside sources to make good decisions
that would move the organization forward. Information from customers, suppliers and
employees are instrumental to successful decision-making.
Key words: Decision-making, technology, executive,
information.
INTRODUCTION
The word
“decision-making” conjures up the image of choice among alternative courses of
action in a way appropriate to the demand of the situation. The ability of the decision maker to choose
the best option that is capable of achieving the set objective or solving the
problem demands structured decision guidelines.
These guidelines put together are referred to Read more>>>>
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