Overview
Strategic decision-making is a critical skill in business that involves a systematic approach to making choices that affect the future of an organization. It requires gathering and analyzing data, evaluating alternatives, and assessing risks to ensure that decisions are informed and effective. By fo...
Key Terms
Example: Using a decision matrix to choose a vendor based on cost, quality, and delivery time.
Example: Conducting a risk assessment before launching a new product.
Example: Using statistical software to analyze sales data.
Example: Holding a brainstorming session to generate marketing ideas.
Example: Creating an implementation plan for a new software system.
Example: Employees, customers, and investors are all stakeholders in a company.
Related Topics
Project Management
The discipline of planning, executing, and closing projects effectively.
intermediateRisk Management
The identification, assessment, and prioritization of risks in decision-making.
intermediateBusiness Strategy
The plan of action designed to achieve a long-term goal for a business.
advancedKey Concepts
AnalysisAlternativesOutcomesImplementation