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Strategic decisions differ from other types of decisions primarily in their long-term impact and scope. They typically involve significant resource allocation, shape the direction of an organization, and require a comprehensive analysis of internal and external factors. Unlike operational decisions, which focus on day-to-day activities, strategic decisions are concerned with achieving overarching goals and ensuring sustainable competitive advantage. Additionally, they often involve higher levels of uncertainty and risk, necessitating careful consideration and planning.
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Why are strategic decisions different from other kinds of decision?
Because it is in long term performance while other in short term
What is the basic thrust of strategic decision making?
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.
What is difference between strategic decision at business level and strategic decision at corporate level?
Strategic decisions at the business level focus on how to compete successfully in particular markets, determining the positioning, product offerings, and competitive advantages of individual business units. In contrast, strategic decisions at the corporate level involve overarching choices about the overall scope and direction of the entire organization, such as which markets to enter, mergers and acquisitions, and resource allocation among different business units. Essentially, business-level strategy is about competition within markets, while corporate-level strategy is about managing a portfolio of businesses.
What are some approaches to strategic decision making?
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.
Who makes strategic decisions in an organization?
Strategic decisions, which affect the long-term direction of the entire company, are typically made by top managers.
What makes the strategic decision different from other decisions?
It is an educated and long term decision. where other decisions may be impulsive or short term
What makes a decision strategic?
what make adecision strategic
Why are strategic decisions different from other kinds of decision?
Because it is in long term performance while other in short term
What is the role of game theory decision trees in strategic decision-making processes?
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 identify strategic factors in the corporations external international environment?
how can a decision maker indentify strategic factors in the corporation external environment
What differentiate strategic decision from other types of decisions?
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.
What sense the top management makes the company's decision and in what sense does not make company's strategic decision alone illustrate with suitable example?
"http://wiki.answers.com/Q/What_sense_the_top_management_makes_the_company%27s_decision_and_in_what_sense_does_not_make_company%27s_strategic_decision_alone_illustrate_with_suitable_examples" [http://wiki.answers.com/help/answering_questions
How can a decision maker identify strategic factors in a corporation external environment?
NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?
How can a decision maker identify strategic factors in a corporation's external environment?
NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?
How can a decision maker identify strategic factors in the corporation's external environment?
NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?
What is Strategic model of judicial decision making?
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What is the difference between strategic decision administrative decision and operational decision?
Strategic decisions are made by executive level managers. Operational decisions are made by line managers. Operational decisions can change from day-to-day.
