Because it is in long term performance while other in short term
The basic thrust, or idea, of strategic decision making is choosing actions that will help an organization or group achieve its goals or continue to achieve them. It involves choosing these actions wisely and effectively carrying them out.
There are three major approaches to strategic decision making in business. The first is intuition, or making decisions on a hunch or with your 'gut'. The second is a small group process, where 3-4 people combine to hash out a decision. The last approach is through analytics. That is the process of letting data and research dictate a choice.
Strategic decisions, which affect the long-term direction of the entire company, are typically made by top managers.
Tactical decisions support the strategic decision of the organisation. They tend to be of medium significance with moderate consequences.
It is an educated and long term decision. where other decisions may be impulsive or short term
what make adecision strategic
Because it is in long term performance while other in short term
Game theory decision trees play a crucial role in strategic decision-making processes by helping to map out possible outcomes and strategies in a structured way. They allow decision-makers to analyze different choices and their potential consequences, helping to identify the best course of action to achieve their objectives.
how can a decision maker indentify strategic factors in the corporation external environment
Strategic decisions can be distinguished from other types of decisions because it is:Rare: we dont make strategic decision very often.Consequential: is has a future impact on our business in the long term.Directive and binding: the strategic decision we make today will be directed to certain goal and vision, and we will be committed to it.
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?
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Strategic decisions are made by executive level managers. Operational decisions are made by line managers. Operational decisions can change from day-to-day.
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