Today, the issues of effective management have reached an entirely new level of theoretical, methodological and applied understanding. Management practice proves a high degree of importance and prospects for the development and implementation of adequate and effective management decisions. This process has a high level of complexity and algorithmicity. In particular, the trends of digitalization, informatization and automation of the processes of development, implementation, control and adjustment of management decisions are increasingly prevailing today. These tools are beginning to seriously squeeze managerial experience and skills, since individual business entities and the entire business environment are becoming increasingly complex systems with numerous elements, input data, as well as features of organization, operating and development. All this requires the evolution of approaches to the organization of management decision-making processes, as well as the transformation of appropriate techniques and models. The article attempts to clarify the theoretical and methodological aspects of the management process. The authors' algorithm for making managerial decisions has been tested. The prospects of applying the authors' algorithm for making managerial decisions in a real business environment are substantiated. The obtained results and conclusions can be applied in real management processes implemented in various entities of the modern business environment, as well as in the scientific and educational sphere and research activities.