tactic decisions & strategic decisions
Strategic decisions affect long term goals whilst operational decisions are for short term and day to day efficiency
Strategic decisions, which affect the long-term direction of the entire company, are typically made by top managers.
No. Strategic decisions are usually made at a very high level of management.
Tactical decisions support the strategic decision of the organisation. They tend to be of medium significance with moderate consequences.
tactic decisions & strategic decisions
Strategic decisions affect long term goals whilst operational decisions are for short term and day to day efficiency
No. Strategic decisions are usually made at a very high level of management.
Strategic decisions, which affect the long-term direction of the entire company, are typically made by top managers.
Strategic management uses strategy, including strategic thinking to make all decisions, often through the lens of a strategic plan. Strategic management accounting is strict focused on fiscally related decisions, also as aligned with the organization's strategic direction.
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.
Managers at this level must often depend on past experiences and their instincts when making strategic decisions.
Strategic decisions are made by executive level managers. Operational decisions are made by line managers. Operational decisions can change from day-to-day.
K. J. Radford has written: 'Startegic and Tactical Decisions Edition' 'Information systems for strategic decisions' -- subject(s): Decision making, Management information systems 'Strategic planning' -- subject(s): Strategic planning 'Individual and Small Group Decisions'
Tactical decisions support the strategic decision of the organisation. They tend to be of medium significance with moderate consequences.
1. Explain in what sense the top management takes decisions for a company and in what sense it does not takes the strategic decisions for a company alone? Illustrate with suitable examples.
Strategic management is the process of assessing and analyzing decisions across every functional area of a business. More businesses are becoming strategic in order to improve their competitive position.