“Rational decision-making is an impossible ideal in strategy formulation and implementation due to incomplete information and organisational politics.” Strategy is formulated and implemented by organisations as a means of gaining competitive advantage and achieving organisational success. Frequent fast‚ widely supported‚ and high quality strategic decisions are the cornerstone of effective strategy (Eisenhardt‚ 1999 in Clegg et. Al‚ 2012). In today’s world of borderless business‚ ever-evolving
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STRATEGIC CHOICE AND STRATEGIC DECISION MAKING Andy Adcroft STRUCTURE • Why do things happen? • Generic Strategies • Criticisms of generic strategies WHY DO THINGS HAPPEN? Norms and what has happened before Environment Analysis Roles and wider functions Creation of options Organisational Analysis What we want to achieve Emotions‚ power desires‚ goals Age and frequency of behaviours What I want from this job Habits‚ rituals and routines Social factors Decisions are taken and implemented
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In a dynamic and uncertain environment‚ strategic decision making is important because it can provide managers with a systematic and comprehensive means for taking into account the external environment‚ focusing on an organisation’s strength‚ minimising weaknesses‚ and identifying opportunities in which an organisation can have a competitive advantage. However‚ the decision may still fail if it is not implemented properly. Implementation causes the chosen course of action to be carried out within
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Objectives Strategic Decision Making What is strategic management? Why study global strategic management? Fundamental issues General Approach Current competitive landscape Chapter 1 Strategic Management Full set of commitments‚ decisions‚ and actions required to achieve strategic competitiveness and earn sustainable competitive advantage Why study Strategic Management? Expertise in global strategy is highly sought after Preparation for international assignments Needed for advancing to
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Strategic Decision Making General Introductory Ideas 5 Minds of a Manager: Henry Mintzberg To be effective managers need to face the juxtaposition in order to arrive at a deep integration of contradictory concerns. 1) Reflective Mind-Set: Managing Self 2) Collaborative Mind-Set: Managing Relationships 3) Analytical Mind-Set: Managing Organizations 4) Worldly Mind-Set: Managing Context 5) Action Mind-set: Managing Change Emotional Intelligence: Daniel Goleman The 5 Components of EIQ
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Journal of Decision Support System Technology‚ 2(3)‚ 1-15‚ July-September 2010 1 Examining the Implications of Process and choice for Strategic decision Making Effectiveness Paul L. Drnevich‚ The University of Alabama‚ USA Thomas H. Brush‚ Purdue University‚ USA Alok Chaturvedi‚ Purdue University‚ USA AbStrAct Most strategic decision-making (SDM) approaches advocate the importance of decision-making processes and response choices for obtaining effective outcomes. Modern decision-making support system
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Explain the principle of informed choice and how issues of individual capacity may affect this. Informed choice; Informed Choice involves the exchange and understanding of relevant information so that a knowledgeable‚ reasoned and un-pressured decision can be made by the health care Consumer‚ or the Consumer’s delegated representative‚ who has the competence and legal capacity to make such choices: Informed Choice means that families can make knowledgeable decisions‚ which reflect their own culture
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Factors Influencing Strategic Decision-Making Processes Mahmood Nooraie Ph. D. In Management ‚ Islamic Azad University‚ Abhar Branch‚ Iran Email: (mnoor20@yahoo.com) Abstract Decision-making is one of the most important functions of managers in any kind of organization. Among different manager ’s decisions strategic decision-making is a complex process that must be understood completely before it can be practiced effectively. Those responsible for strategic decision-making face a task of extreme
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people for a definition of strategic planning or decision making or even planning and you will probably receive five or ten different answers. Most agree that strategic planning is a way to identify long-term goals and to direct your company toward fulfilling those goals. Most also will agree that decision making is a cognitive activity involving the interplay of environmental cues and human cognitive processes‚ culminating in the selection of one or more possible choices of action (Wickens‚ 1992)
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Strategic Decision Making [Type the document subtitle] [Pick the date] Table of Contents Strategic Decision Making If we think of organizations and their surrounding environments as political systems‚ the phrase ‘strategic decision making’ assumes a completely different meaning. Organizations and their surrounding environments depend on each other in several ways‚ benefit from each other and are either positively or negatively impacted
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