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The purpose of this paper is to analyze the decision -making process that was involved in appointment of company president in the company where I personally worked MrZutshi the company president faced a very critical decision making situation while appointing new successor for the company after his retirement A Chief executive officers decision has considerable impact on the performance of the organization Decision-making is one of the most important recurring responsibilities facing managers in organizations A high-quality decision helps an organization accomplish its strategic goals and also meets the needs of the organizations employees executives stockholders consumers or suppliers In his book called Decision Making Paul Moody 1983 defines decision as an action that must be taken when there is no more time for gathering facts The Problem is how to decide when to stop gathering facts The solution varies with each problem we attempt to solve for gathering facts costs time and moneyPeter E Druker 1967 lists five elements of decision process in his book The effective Executive1 Clear realization that the problem is generic and can be solved only through a decision that establishes a rule 2 Definition of the specifications of the solution or the boundary conditions 3 Derivation of a solution that is right that is one that fully satisfies the specifications before attention is given to the concessions needed to make the decision acceptable 4 The building into the decision of the action to carry it out 5 The feedback that tests the validity and effectiveness of the decision against the actual course of events Druker goes on to explain that a decision is a judgment and as such is rarely a choice between right and wrong At best it is a choice between almost right and almost wrongPaul Moody 1983 has written in his book Decision Making that if a company has a long-standing policy of acting in a certain situation in a particular way
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