Strategic Decision Making and Strategic Decision Practices in Intelligent Organizations: A Review

Abstract

Strategic decision-making is a key tool to drive business growth. It helps figure out the best way of achieving a business objective, provided an organization has a decision-making process that involves a well-defined set of policies that must be adhered to by all. Strategic decision making is used in competitive companies and is intended to give a company a competitive advantage by transitioning its scope and the way the company runs its activities. The difference between strategic decision-making and other decision-making processes like administrative and operational is that strategic decision-making is a long-term process which needs to be done very carefully by taking into account all the resources to be utilized and keeping in mind all uncertainties which may occur. Administrative decisions are short-term strategies. Strategic decision-making keeps the company's long-term future in mind, unlike other decision-making processes. The research aims to demonstrate knowledge and understanding of how things work in strategic decision making. The research by reviewing the literature and previous studies the research indicates that the strategic decision-making process plays an important role in the effective performance of the organization. The study also showed that how strategic improvisation is done in intelligent organizations and the interconnection of SDM’S with managerial functions.