Strategic Decision Making in Organizations
Based on examples from one of the recommended articles selected by you, the lecture notes, the text, and other sources, discuss one or several of the themes: strategic decision making in organizations, strategic decision success in organizations, evaluation of strategic decisions – the VRIO framework, management cycles and business decisions in organizations.
Discussion
Author’s Name
Institution of Affiliation
Course Name
Instructor’s Name
Date
Discussion
Strategic decision-making is when an organization bases its short-term decisions on the longer ones for the company's direction. This approach involves applying small, quantifiable objectives that lead to its overall mission. Executives and managers make strategic decisions involving high-level factors vital for the company's success, such as budget and potential risk. Successful strategic decision-making involves a leadership team, organization workers, and even team members.
The strategic decision-making comprises different elements, including