Question

Making decisions in any situation is important because that the decisions that are made always have consequences if the decision is a wrong chose. Making decisions affect everyone in the organization.

Investigate strategic decision making or what is commonly called strategic planning which involves many aspects. Discuss the purpose of the mission, the vision, values, goals and objectives involved in this type of decision making.

Answer 1

Strategic decision making helps to analyze the internal and external environments inorder to develop an effective planning. Effective strategic decision making improves criitical thinking for effective leadership. Effective strategic decision making significantly increases performance, success, and survival of organization. Strategic decisions are intended to provide a competitive advantage and try to change the overall scope and direction of the company. They are important for the organizational health and survival. It deals with range of organizational activities. Strategic decisions deals with harmonizing organizational resource capabilities with threats and opportunities. It helps to improve the organozational growth. Strategic decisions are made in accordance with organizational mission and vision and they are the long term decisions made by organization. Strategic decisions are always complex in nature. It helps to meet organizational objectives and it helps to achieve the goals by making decisions and proper actions.It involves:

- Goal setting

- Initial assessment , analysis, strategy formulation ,implementation , monitoring and analysis and evaluation.

Strategic decision making provides an organizational perspective and it helps in better understanding of the organization.