Decision-making in organizations: the new paradigm

Decision-making is ever present in all forms of organized human activity. Decisions range from the simple to the complex within large organizations, whether in the nonprofit, public or private sectors. Throughout human history, man has sought to control the results of his decisions, to quantify them, to increase their predictability and to reduce their risks. Three current areas of decision making: risk assessment, chaos theory and strategic management are analyzed in this article. Their interconnectedness and potential as a “new paradigm” is its focus.