But How DO Managers Make Decisions?

One of the main things taught in business schools is managerial decision‐making. Often as a formal course of study, and always as an implication, students are taught that one of the main, if not major, responsibilities of a manager is to “guide the activities of the business”. Therefore, they are trained in reading the significance of events in the economic environment, and taught the intricacies of marketing, finance, production, and organising the work force. Much of this teaching presumes that the manager is a rational, cogent and calculating individual. He is taught that rules and theories govern business operations, and above all he is taught that he should use something called “scientific decision‐making”.