Full text: https://firmstrategy.net/strategic-decision-versus-tactical-decision-in-firm/ In practice, strategic management is associated with making strategic decisions, that concern often the long-term future of firm, its changing business environment, and all of resources and people related to th #kevin1230san

Liked: Strategic decision in firm: Characteristics and Example versus Tactical decision Full text: https://ift.tt/h5CrVI7 In practice, strategic management is associated with making strategic decisions, that concern often the long-term future of firm, its changing business environment, and all of resources and people related to the firm. So, strategic decisions are different from the other ones by its following specific features (Johnson et al., 2005): - Making strategic decisions is a complex process. Such complexity characterizes the strategy and strategic decisions involved, especially for firm having a great and diverse business portfolio, such as multinational corporations. - Strategic decisions are often related to the business portfolio and/or industry in which firm operates. The central questions that strategists often ask consist in focus on which business area, on this one or the other one or several ones? or in development of which product lines? or attacking or defending which market, in which area, etc.? - Strategic decisions often aim at achieving a certain advantage for firm. - Strategic decisions are sometimes made in uncertain context related to future conditions and outcomes. - Strategic decisions have great impacts on firm’s functioning and business operations for two reasons: firstly, if business operations do not fit to the firm strategy, the last one will not be successful; secondly, at the functional level, right strategic decisions will enable firm to gain a competitive advantage. - Strategic decisions require the fully-integrated business management in the firm. Managers at different corporate levels have to handle with strategic issues related to or in cooperation with others divisions on the principle of consensus with other managers, who may pursue different interests and objectives. - Managers must also maintain and develop the relationships as well as business networks with partners such as suppliers, distributors, customers… - Strategic decisions often concern the long-term changes of firm, so they are difficultly accepted by related people because of organizational inertia, limited resources, organizational culture and routines of stakeholders. via YouTube https://www.youtube.com/watch?v=akfoMtea5b4

Strategic decision in firm: Characteristics and Example versus Tactical decision Full text: https://ift.tt/h5CrVI7 In practice, strategic management is associated with making strategic decisions, that concern often the long-term future of firm, its changing business environment, and all of resources and people related to th Tags: kevin1230san via Pocket https://www.youtube.com/watch?v=akfoMtea5b4 March 27, 2023 at 07:53PM