Business Policy Problem
The text states that strategic decisions are (i) rare, (ii) consequential, and (iii) directive. These deal with the long-term future of the entire organization. To aid in the decision making, the authors suggest an eight step decision-making process. These include:
• evaluating current performance results;
• reviewing corporate governance;
• scanning and assessing the external environment;
• scanning and assessing the internal corporate environment;
• analyzing the strategic factors;
• generating and selecting the best alternative strategy;
• implementing selected strategies; and
• evaluating implemented strategies.
These guidelines for making and evaluating decisions at a strategic level can be important for leaders.
Open today's issue of The Wall Street Journal and look for an article about new moves being made by a corporation, specifically the decisions that are strategic. At what level is each of the decisions that you identified? Functional/Business/Corporate? Why do you believe this to be the case? What is your assessment of these decisions? Will they be effective? Why? How have you decided this?
The response must include a reference list. Using one-inch margins, double-space, Times New Roman 12 pnt font and APA style of writing and citations.