Decision making theory; a Philosophical view

Abstract

Decision making is the foundation for life and time management. It can be regarded as a problem-solving activity ended with a solution which is deemed to be satisfactory. It is, therefore, a process which can be more or less rational or irrational and can be based on explicit or tacit knowledge. Data from secondary sources was used for this study. This article tries to explore how to use decision making theory in present situation. Now the justifiable many emerge as, what is decision making theory? How far they are interrelated? What role they will play in this ultra modern world? Etc. These are to be discussed in the paper philosophically and analytically. This paper will be divided into two sections. At the outset researcher indicates something about the Theories and philosophical background of Decision Making and then in the later part researcher proceeds to the other relevant links (Swot Analysis, Motivated Factors, Needs Theory, etc.). Decision making and problem solving are an essential part of individual and social phenomena.