The Psychology of Decision-Making in Management

Abstract

                        This scholarly article explores the intricate relationship between psychology and decision-making in the context of management. Decision-making is a critical aspect of managerial roles, influencing organizational success or failure. By delving into the psychological underpinnings of decision-making, this paper aims to enhance our understanding of the cognitive processes, biases, and heuristics that shape managerial choices. The article discusses the implications of psychological factors on strategic decision-making, the role of emotions in managerial choices, and the impact of cognitive biases on organizational outcomes. By synthesizing existing literature and drawing on real-world examples, this article provides valuable insights for both scholars and practitioners seeking to optimize decision-making processes in management.