Strategic At the strategic level , managers develop overall business strategies, goals,
and objectives as part of the company’s strategic plan. They also monitor the strategic performance
of the organization and its overall direction in the political, economic, and competitive
business environment. Strategic decisions are highly unstructured decisions ,
occurring in situations in which no procedures or rules exist to guide decision makers
toward the correct choice. They are infrequent, extremely important, and typically related
to long-term business strategy. Examples include the decision to enter a new market or
even a new industry over, say, the next three years. In these types of decisions, managers
rely on many sources of information, along with personal knowledge, to find solutions.
Figure 2.6 highlights the essential elements required for strategic decision making.
Strategic At the strategic level , managers develop overall business strategies, goals,and objectives as part of the company’s strategic plan. They also monitor the strategic performanceof the organization and its overall direction in the political, economic, and competitivebusiness environment. Strategic decisions are highly unstructured decisions ,occurring in situations in which no procedures or rules exist to guide decision makerstoward the correct choice. They are infrequent, extremely important, and typically relatedto long-term business strategy. Examples include the decision to enter a new market oreven a new industry over, say, the next three years. In these types of decisions, managersrely on many sources of information, along with personal knowledge, to find solutions.Figure 2.6 highlights the essential elements required for strategic decision making.
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