Therefore, a major concern in management has been to understand and to improve decision making. Huber (1980) stressed that there have been two approaches to management decision making: The first approach is concerned with the development and the application of normative decision rules, based on formal logics derived from economics or statistics. The second involves descriptive accounts of how people actually go about making judgments, decisions, and choices. Using both, normative and descriptive approaches, there have been many successful applications of behavioral decision theories in management, business and other settings. Hick and Gullett (1975) expressed that ‘A decision’ essentially involves the process or mechanism by which a particular course of action is chosen from among a number of available alternative courses of action. Therefore, Scott and Mitchell (1972), explained that ‘Decision Making’ is one of the principal processes engaged in by individuals, by groups and by organizations. Yuthasitti Junkhumung (1994), ‘Decision Making’ is both a managerial function as well as an organizational process. The managerial function is for the manager himself to take the responsibility of making decisions. Organizational processes have involved committees, machines or even computers. As a decision is the focal point of both, managerial and organizational actions, a manager’s decision reflects other basic functions than only formulating plans, policies and objectives. It also produces actions and events that result in his contributions to the operations of the organization.