Strategic decision making and its importance in the corporate world

Type :

Term papers

Pages :

9 pages

Format :

.doc

Published date :

03/05/2009

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Summary :

 
 

Table of Contents Strategic decision making and its importance in the corporate world Table of Contents

 
  1. Introduction.
  2. Strategy according to Michael Porter.
  3. Levels of strategy in an organization.
  4. Corporate level strategies.
  5. Business level strategies.
  6. Operational strategies.
  7. Strategic management.
  8. Strategic position.
  9. Strategic implementation.
  10. Strategic evaluation and control.
  11. Strategic decision making.
  12. Conclusion.
  13. References.

Abstract

According to Prasad (2001) every organization is involved in a complicated pattern of decisions from board of directors to specific decisions about the day to day processes. Some of these decisions have a long- term effect while others have only short- term effect. The emphasis of making these decisions have led to development of a new field corporate strategy.

Today every organization in any market sector wants to surpass its competitors and improve their market performance and market share and thus gain a competitive advantage against their competitors. Thus to gain competitive advantage an organization need to rethink about some of important factors like prices, product range, manufacturing quality, service levels etc. To achieve its objectives it needs to develop strategy options and then choose the most relevant option amongst them. According to Johnson and Scholes (1999) corporate strategy can be described as the identification of the purpose of the organization and the plans and actions it undertakes to achieve them. It is a link between organizations internal resources and its external relationship with its customers, suppliers, and competitors.

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