The present text book titled “Decision Making Techniques” has been meticulously prepared
to cater to the academic and practical needs to the student of M.Com-II, Semester-III, for two
credits especially in alignment with the National Education Policy (NEP) 2020. The book is
designed to offer a structured approach to understanding and applying various decision making
tools and methodologies. Whether in business management, public policy engineering, and
decision making techniques help corporate sector and individuals to achieve desired outcomes
efficiently, enhance conceptual understanding, analytical ability, and application skills, with a
focus on interdisciplinary learning and real-world relevance.
The content aims to blend both theoretical foundations and practical applications covering
modern tools like decision trees, multi criteria analysis, cost-benefit analysis and simulation
techniques. Case studies and illustration are integrated to provide a deeper understanding of how
these methods function in practice. Decision Making Techniques is an essential component of
modern business practices. It ensures, cost control, cost reduction, cost transparency, efficiency,
and decision making compliance with statutory regulations. The subject is not only vital for
students aspiring to become cost accountant or management professionals but also for those
aiming to contribute to sustainable business practices.
This book, “Decision Making Techniques,” is designed to provide a comprehensive
understanding of the methods and tools that support effective decision-making. It brings together
both the analytical and behavioural dimensions of decision-making, recognizing that while data
and models are essential, human judgment and organizational context also play a vital role.
This book is structured to meet the curriculum framework recommended by NEP 2020,
which emphasizes a holistic, flexible, and multidisciplinary approach to higher education. It
encourages critical thinking, skill development, cost analysis, cost comparison and ethical
values through integrated content. Each chapter includes learning outcomes, conceptual clarity,
practical examples, case studies, MCQs, and assignments to enhance student engagement and
comprehension.
Salient features of this book include:
• Introduce the fundamental concepts of decision theory.
• Explore both qualitative and quantitative techniques for structured decision-making.
• Present real-world applications across business strategy, operations, finance, and human
resources.
• Help students and professionals develop a systematic approach to problem-solving.
This book is intended for students of management, commerce, operations research, and
economics, as well as for professionals and decision-makers who seek to improve their analytical
thinking and strategic judgment. Each chapter is enriched with examples, case studies, and
practice exercises to bridge the gap between theory and practice.