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Scope of strategic management?
Strategic management helps businesses focus on the overall direction of the organization. When a business operates strategically, their manager's decisions are competitive.
What are the characteristics of strategic decisions?
Strategic decisions are characterized by their long-term impact on an organization, often involving significant resource allocation and influencing the overall direction of the company. They are typically made at higher management levels and require comprehensive analysis, considering both internal capabilities and external market conditions. These decisions involve uncertainty and risk, necessitating a focus on future trends and competitive positioning. Additionally, strategic decisions often require alignment with the organization's mission and vision.
Types of decisions?
tactic decisions & strategic decisions
1 Explain in what sense the top management makes the companys decisions and in what sense it does not make the companys strategic decisions alone Illustrate with suitable examples?
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.
What are the differences between strategic and operational decisions?
Strategic decisions affect long term goals whilst operational decisions are for short term and day to day efficiency
Who is a chief executive officer of the company?
The Chief Executive Officer of an organization is the boss. They are at the top of the organization because they make strategic decisions about the organization.
What are differences between strategic management and strategic management accounting?
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.
Scope of strategic management?
Strategic management helps businesses focus on the overall direction of the organization. When a business operates strategically, their manager's decisions are competitive.
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
Types of decisions?
tactic decisions & strategic decisions
1 Explain in what sense the top management makes the companys decisions and in what sense it does not make the companys strategic decisions alone Illustrate with suitable examples?
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.
Who makes tactical decisions in an organization?
Tactical decisions, which focus on more intermediate-term issues, are typically made by middle managers.
Who makes operational decisions in an organization?
Operational decisions focus on day-to-day activities within the company and are typically made by lower-level managers.
What are the differences between strategic and operational decisions?
Strategic decisions affect long term goals whilst operational decisions are for short term and day to day efficiency
What is a strategic model?
strategic model affects on csf of organization.
What is the importance of developing a strategic business case for implementing new initiatives within an organization?
Developing a strategic business case for new initiatives is crucial for organizations as it helps in assessing the potential benefits, costs, and risks associated with the initiative. It provides a clear roadmap for decision-makers to understand the impact on the organization's goals, resources, and overall success. This helps in making informed decisions and ensures that the initiative aligns with the organization's strategic objectives.
What is the significance and responsibilities associated with holding a board seat?
Holding a board seat is significant because it involves making important decisions for an organization. Responsibilities include providing oversight, strategic direction, and ensuring the organization's success.
