how can a decision maker indentify strategic factors in the corporation external environment
environmental scanning should provide inputs for stratergic decision making elobrate
operational excellence, competitive advantage, survival, improved decision makinh
Decision making is a managerial process. It is the function of choosing a particular course of action out of several alternative courses for the purpose of accomplishment of the organisational goals.Decisions may relate to general day to day operations. They may be major or minor. They may be strategic, tactical or operational in nature.Major dimensions of strategic decisionsThe major dimensions of strategic decisions are as follows:1. Strategic issues require top-management decisions:Strategic issues involve thinking in totality of the organization's objectives in which a considerable amount of risk is involved. Hence, problems calling for strategic decisions require to be considered by the top management.2. Strategic issues involve the allocation of large amounts of company resources:It may require either a huge financial investment to venture into a new area of business or the organization may require a huge amount of manpower with new skill sets.3. Strategic issues are likely to have a significant impact on the long term prosperity of the firm:Generally the results of strategic implementation are seen on a long term basis and not on immediate terms.4. Strategic issues are future oriented:Strategic thinking involves predicting the future environmental conditions and how to orient for the changed conditions.5. Strategic issues usually have major multifunctional or multi- business consequences:As they involve organization in totality they affect different sections of the organization with varying degree.6. Strategic issues necessitate consideration of factors in the firm's external environment:Strategic focus in an organization involves orienting its internal environment to the changes of external environment.
It allows business decision makers to evaluate and react to the success of past decisions.
A decision theoretic approach is an approach to determine how decisions are made given unknown variables and an uncertain decision environment framework. It is applied to many areas such as auctions, game theories, and marketing.
4.How can a decision maker identify strategic factors in a corporation's external international environment
NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?
NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?
NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?
Ben D. Mor has written: 'Decision and interaction in crisis' -- subject(s): Decision making, International relations, Israel-Arab War, 1967, Psychological aspects, Psychological aspects of International relations 'The strategic structure of enduring international rivalries' -- subject(s): Arab-Israeli conflict, Game theory, International Competition, Strategic rivalries (International relations), Strategic rivalries (World politics)
what make adecision strategic
From the decision-maker's perspective, the components of the environment consist of internal factors (such as the organization's resources, goals, and structure) and external factors (including economic conditions, competitors, market trends, and regulatory constraints). These components influence the decision-making process and shape the strategic choices made by the decision-maker. Understanding these components is crucial for assessing risks and opportunities in the environment.
Man-Hee Han has written: 'Japanese multinationals in the changing context of regional policy' -- subject(s): Corporations, Japanese, Decision making, International business enterprises, Japanese Corporations, Location
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.
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Strategic decisions are made by executive level managers. Operational decisions are made by line managers. Operational decisions can change from day-to-day.
International Decision Systems was created in 1980.