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Strategic Decision Making

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Have you been personally involved in the making of a decision for a business concerning what, how, or for whom? If yes, explain your rationale for making such decisions. Were these decisions guided by the market process, the command process, or the traditional process? Explain.

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The response address the queries posted in 998 words with references.
//Before writing for this query, we must be aware about the process of decision making. Along with this, we are required to write your experience on business decision making and had this decision been influenced by market process, command process or traditional process. I am going to assist you on this topic on the basis of my experience which would help to satisfy the query. See the text below: //

Strategic Decision Making

To make a choice regarding the courses of action to be adopted is strategic decision-making. Strategic decision-making forms the core of strategic management. Strategic decision-making leads to the formation of strategies. Strategic decision-making is a complex process so one should consider different dimensions of the decision-making:
Decision-making for a business

A clear business definition is helpful for strategic management in many ways. It can indicate the choice of objectives; help in exercising a choice among different strategic alternatives, facilitate functional policy implementation and suggest appropriate organizational structure. The most important function of any manager is decision-making regarding the success of the business.
Business can be defined along with the three dimensions.
Customer Functions

Customer Groups Alternative Technologies

As an assistant manager, in Modi Xerox business, I was involved in decision-making at SBU level. The goal of the firm is to maximize its profits up to 20%, and the strategy towards the attainment of this objective was expansion strategy. To increase sales, ...

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Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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