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how can a decision maker indentify strategic factors in the corporation external environment
environmental scanning should provide inputs for stratergic decision making elobrate
operational excellence, competitive advantage, survival, improved decision makinh
Decision making is a managerial process. It is the function of choosing a particular course of action out of several alternative courses for the purpose of accomplishment of the organisational goals.Decisions may relate to general day to day operations. They may be major or minor. They may be strategic, tactical or operational in nature.Major dimensions of strategic decisionsThe major dimensions of strategic decisions are as follows:1. Strategic issues require top-management decisions:Strategic issues involve thinking in totality of the organization's objectives in which a considerable amount of risk is involved. Hence, problems calling for strategic decisions require to be considered by the top management.2. Strategic issues involve the allocation of large amounts of company resources:It may require either a huge financial investment to venture into a new area of business or the organization may require a huge amount of manpower with new skill sets.3. Strategic issues are likely to have a significant impact on the long term prosperity of the firm:Generally the results of strategic implementation are seen on a long term basis and not on immediate terms.4. Strategic issues are future oriented:Strategic thinking involves predicting the future environmental conditions and how to orient for the changed conditions.5. Strategic issues usually have major multifunctional or multi- business consequences:As they involve organization in totality they affect different sections of the organization with varying degree.6. Strategic issues necessitate consideration of factors in the firm's external environment:Strategic focus in an organization involves orienting its internal environment to the changes of external environment.
It allows business decision makers to evaluate and react to the success of past decisions.
how can a decision maker indentify strategic factors in the corporation external environment
NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?
NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?
NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?
4.How can a decision maker identify strategic factors in a corporation's external international environment
Ben D. Mor has written: 'Decision and interaction in crisis' -- subject(s): Decision making, International relations, Israel-Arab War, 1967, Psychological aspects, Psychological aspects of International relations 'The strategic structure of enduring international rivalries' -- subject(s): Arab-Israeli conflict, Game theory, International Competition, Strategic rivalries (International relations), Strategic rivalries (World politics)
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Frederick K. Lister has written: 'Decision-making strategies for international organizations' -- subject(s): Case studies, Decision making, International Monetary Fund, International agencies
what make adecision strategic
No, knowledge management is not a fad. It is a strategic approach to collecting, organizing, storing, and sharing knowledge within an organization to improve efficiency and decision-making. Knowledge management has been recognized as an essential practice for organizations to remain competitive in a rapidly changing business environment.
From the decision-maker's perspective, the components of the environment consist of internal factors (such as the organization's resources, goals, and structure) and external factors (including economic conditions, competitors, market trends, and regulatory constraints). These components influence the decision-making process and shape the strategic choices made by the decision-maker. Understanding these components is crucial for assessing risks and opportunities in the environment.
For organizations, it is referred to as a vision statement. It is a short statement indicating what the organization wants to be. It deals with the future of that organization and it uses that statement as a foundation for its strategic planning and decision making criteria.