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International Journal of Academic Research in Business and Social Sciences July 2012, Vol. 2, No. 7 ISSN: 22226990Factors Influencing Strategic DecisionMaking Processes Mahmood Nooraie Ph. D. In Management.

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Strategic decision-making is the process of charting a course based on long-term goals and a longer term vision. By clarifying your company's big picture aims, you'll have the opportunity to align your shorter term plans with this deeper, broader mission giving your operations clarity and consistency.

In like manner, the other major factors that can influence decision making include: leadership style influence, a variety of cognitive biases, change, technology, politics, communication, economic status, market cost, and social responsibility among other factors.

Environmental constraints. Internal organizations and management power relationships. Values and preferences. Management`s attitude towards risk. Impact of past strategy. Time constraints- time pressure, frame horizon ,timing of decision. Information constraints. Competitors reaction.

There are several important factors that influence decision making. Significant factors include past experiences, a variety of cognitive biases, an escalation of commitment and sunk outcomes, individual differences, including age and socioeconomic status, and a belief in personal relevance.

Factors influencing changes in strategic management may be internal or external to the business organization. Some of these factors include management functions, structural transformations, competition, socio-economic factors, laws and technology.

Strategic Factors are those things that your organization or busi- ness unit needs to get right in order to succeed with your key stakeholders, that is, your customers, suppliers, employees, owners and any other organization, business unit or individual that you depend on for success.

During the decision making process, there are four behavioral factors that influence the decisions we make. These behavioral factors are our values, our personality, the propensity for risk, and the potential for dissonance of the decision.

Strategic decision-making is the process of charting a course based on long-term goals and a longer term vision. By clarifying your company's big picture aims, you'll have the opportunity to align your shorter term plans with this deeper, broader mission giving your operations clarity and consistency.

It came out clearly that there are various factors that influence the process among them being organizational structure, resources, policies, professional expertise, political interference, vested interests and organizational culture. Several challenges are faced in the process of making strategic decisions.

Engagement. Only 23% of companies use a formal strategic planning process to make important strategic decisions. ... Communication. ... Innovation. ... Project Management. ... Culture.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232