Decision Making Good decision making is vital to a firm’s success. The management process involves: Planning: what should the firm do? How do we do it? Organising: what resources are needed and when? Coordinating: resources are ready at the right time. Controlling: plans are being followed. This process needs to be continually reviewed. Good managers are right more often than not and get key decisions right. There are 3 ways a decision can be made: Facts Intuition Experience Decisions usually involve all three. Risk-takers use more intuition, whilst cautious types rely more on facts