Based on military strategies, the chapter details the three elements of strategy, which represents an integrated decision-making on three core questions concerning a company’s development. First, is the decision on determining long-term development goals; second is that on identifying key development problems and main challenges; third is that on formulating guiding principles for solutions to the main challenges, making it an interdependent whole indispensable to each other. In other words, an overall strategy decision is composed of three sub-decisions, which are related and are matched with the three core elements of the strategy concept.
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Problems and Perspectives in Management
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The growth and diversity of strategic management research raise important questions about the field’s identity. In response to the increasing breadth of topics addressed in the field, scholars have suggested the need for a more topical focus, improved theoretical and empirical rigor, or additional integrative reviews. We suggest an alternative approach, one that emphasizes the distinctive contributions of strategic management. We highlight three unique characteristics of strategic decisions: interdependence across contemporaneous decisions, across the decisions of other economic actors, and across time. We suggest that this threefold characterization of strategic decisions improves on existing definitions that rely on the perceived importance of decisions or the trade-offs presented by a decision. Our definition of strategic decisions highlights patterns of interdependent choices that are complementary or superadditive to value creation. Moreover, this characterization of strategic .
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THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT
Strategic decision making is very useful when dealing with poorly structured problems for which there are no clear solution procedures. In attempting to provide an evaluation of how much influence strategic decision making has on organizational performance, this paper posits that effective strategic decisions are results of systematic and careful analysis of information. Factors that influence management decisions as well as organizational performance are explained, pointing out that though the strategic decision-making approach enables organizations to sustain a competitive edge and ensure survival, there is a likelihood that the scope and direction of the organization will be changed. This paper uses a systematic review of articles and contributes to an understanding of factors that contribute to organizational performance such as management, employee behavior, decision making processes as well as organizational environmental factors. Having adopted the administrative behavior theory of Herbert Simon, the study concluded by indicating that the strategic decision-making process plays an important role in the effective performance of an organization
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Strategic Management Journal
This paper investigates the relationship between the process of strategic decision-making and management and contextual factors. First, drawing on a sample of strategic decisions, it analyzes the process through which they are taken, into seven dimensions: comprehensiveness/rationality, financial reporting, rule formalization, hierarchical decentralization, lateral communication, politicization, problem-solving dissension. Second, these process dimensions are related to (1) decision-specific characteristics, both perceived characteristics and objective typologies of strategic decisions, (2) top management characteristics, and (3) contextual factors referring to external corporate environment and internal firm characteristics. Overall, the results support the view that strategic decision processes are shaped by a multiplicity of factors, in all these categories. But the most striking finding is that decision-specific characteristics appear to have the most important influence on the .
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