The word decision has been derived from the Latin word “ DECIDERE” which means “Cutting Off ”. Thus decision making involves cutting off of alternatives between those that are desirable and those that are not desirable. So decision making is a kind of choice of a desirable alternative. Generally decision making is a psychological process resulting in the selection of a belief (or) a course of action among several alternative possibilities. It is a problem solving activity followed by an optimal solution to the business problem or situation.