Strategic Decisions – Definition and Characteristics
Strategic decisions are those decisions that are linked with the whole working atmosphere in which the company operates. It involves so many factors, such as the people working in the organization and all the resources.
Features of Strategic Decisions:
- They have main resource propositions for a company. These decisions might be linked with retaining resources.
- It is a process of harmonizing organizational resources with external factors such as opportunities and threats.
- They deal with several organizational activities. They help the organization to reach its desired status.
- As every company works in a competitive environment, strategic decisions include a change of major type.
- They are highly complex in nature.
- They pose some risks because they deal with upcoming decisions.
- These decisions are quite different than operational and administrative decisions. Here is the difference between strategic, administrative, and operational decisions,
- They are long-term decisions.
- They need to be used for future planning.
- It requires to take decisions according to the organization’s vision and mission.
- They have connections with counter planning.
- They are for organizational growth.
- It requires daily basis decisions.
- They are short-term decisions.
- They are for keeping operational and strategic decisions in mind.
- Related to working of workers.
- They are present in the welfare of employees.
- They do not be taken too frequently.
- Medium-based decisions.
- They must be by keeping administrative and strategic decisions in mind.
- Related to production.
- Related to factory growth and production.
Need Help or Advice in Content Management:
Do you want more advice? Do you have good practices to share? Express yourself in the comments.
Moreover, if you want any help to write content to drive more traffic and boost conversions, get in touch through Contact our team?
Do you want any help writing quality content, driving more traffic to your website, and boosting conversions? You can contact me through my Freelancer.com profile also. I always prefer to work through Freelancer.com for smooth functioning. Here you pay safely and securely.