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Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals.. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy.
Strategic management tools. In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.
Rational decision making is a multi-step process for making choices between alternatives. The process of rational decision making favors logic, objectivity, and analysis over subjectivity and insight. Irrational decision is more counter to logic. The decisions are made in haste and outcomes are not considered. [57]
Decision management was described in 2005 as an "emerging important discipline, due to an increasing need to automate high-volume decisions across the enterprise and to impart precision, consistency, and agility in the decision-making process". [1] Decision management is implemented "via the use of rule-based systems and analytic models for ...
Strategic leadership presumes a shared vision of what an organization is to be so that the day-to-day decision-making or emergent strategy process is consistent with this vision. Managerial leaders influence only the actions and decisions of those with whom they work.
The rational model of decision-making is a process for making sound decisions in policy making in the public sector. Rationality is defined as “a style of behavior that is appropriate to the achievement of given goals, within the limits imposed by given conditions and constraints”. [4]
Thinking in time means being able to hold past, present and future in mind at the same time to create better decision making and speed implementation. "Strategy is not driven by future intent alone. It is the gap between today’s reality and intent for the future that is critical." [15] Scenario planning is a practical application for ...
Business decision mapping (BDM) is a technique for making decisions, particularly for the kind of decisions that often need to be made in business.It involves using diagrams to help articulate and work through the decision problem, from initial recognition of the need through to communication of the decision and the thinking behind it.