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EFFECTIVE DECISION-MAKING AND ORGANIZATIONAL GOAL ACHIEVEMENT IN A DEPRESSED ECONOMY



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 
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