What is the strategic decision-making process?
What is the strategic decision-making process?
Strategic decision-making is the process of charting a course based on long-term goals and a longer term vision. By clarifying your company’s big picture aims, you’ll have the opportunity to align your shorter term plans with this deeper, broader mission – giving your operations clarity and consistency.
What are the five steps in strategic decision-making?
Five-Step Model to Making Strategic Decisions
- Define the Problem – Consider these questions:
- Gather Information – Seek information on how and why the problem occurred:
- Develop and Evaluate Options – Generate a wide range of options:
- Choose the Best Action – Select the option that best meets the decision objective:
What are some examples of strategic decision making?
Some examples of strategic decisions include: to enter a new market/exit an existing market or not. to launch a new product/service / withdraw an existing product/service or not. to target a new/abandon an existing customer segment or not.
What are the different types of decision making models?
Decision making models fall into two general categories: rational and intuitive. These two broad categories provide variations to arrive at a decision in any situation.
What are the different types of decision making?
We determine types of decision making by looking at outcomes and the impacted entity. At the highest level we have chosen to categorize decisions into three major types: consumer decision making, business decision making, and personal decision making.
What are the different types of business decisions?
There are five main types of business decisions that are common for all types of organizations. They include operational decisions, tactical decisions, strategic, programmed, and non-programmed decisions.