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Planning, for example, involves deciding what should be done? When? How? Where? and By whom? Other managerial functions, such as organizing, implementing, and controlling rely heavily on decision-making.
Today's fast changing and global environment dictates that a successful enterprise has a rich decision-making process. This means not only gathering and processing data, but also making decisions with the support of state-of-the-art decision methods. Decision-making is the very foundation of an enterprise, and sound decision-making is absolutely necessary for gaining and maintaining a competitive advantage...
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