Strategic Decision Making: Process and Aid to Better
Decision Making in Organizations: A Literature Review 
Approach

Bayo; P. L. (PhD); Akintokunbo; O.O. (PhD)

doi:Strategy, Decision Making, Process, Aid, Organizations.

📄 Download Paper

Strategic Decision Making: Process and Aid to Better Decision Making in Organizations: A Literature Review Approach

Bayo, P. L. (PhD) & Akintokunbo, O.O. (PhD)

Abstract

Organizations today survive and are sustainable as a result of the strategic decisions taken by the leadership of such organizations. Their ability and capability to make quality and sustainable decisions depend on the competence of the managers to achieve set goals and objectives. This paper examined the basic strategic decision-making process as an aid to good decisions. Strategic audit helps to list out the areas where the need for better decisions should be encouraged either by adopting or adapting to it for better performance by organization. Thus, since good decisions are said to be rare, the basic strategic process, the modes, the strategic diamond should be encouraged by organization. This paper also introduces us to a well- accepted model of strategic management in which environmental scanning leads to strategy formulation, implementation, evaluation and control. It further shows how the model can be put into action through the strategic decision-making process and the strategic audit

References

Bayo, P.L & Ebikebena, E.R (2021). Strategy management process and firms productively of plastic manufacturing companies in south-South Nigeria: Research Journal of Management Practice 1 (1) 1-15. Bayo, P.L & Hamilton, D.I. (2021). Basic model of strategic management process. International Journal of Multidisciplinary Research and Growth Evaluation 2 (4) 19-23. Bayo, P.L & Kayii, N.E (2020). Knowledge-based entrepreneurship: an agent for economic development. International Journal of Advanced Academic Research (Social and Management Sciences), 6(8), 32-42. Brews, P.J & Hent, M. R. (1999). Learning to plan and planning to learn: resolving the planning school/learning school debate” Strategic Management Journal 889-913. Dean, J. & Sharfman, M.P (1996). Does decision process matter? A study of strategic decision-making effectiveness. Academy of Management Journal. 368-396. Donaldson, G (1995). A new tool for Boards: The strategic audit. Harvard Business Review 99-107. Gavett, G & Rivkin, J.W (2008). Seek strategy the right way at the right time: Harvard Business Review, 22-23. Gerstner, L.V. (2002). Who say elephant can’t dance. New York: Hamper Collins. Quinn, J.B (1980). Strategies for Change: Logical incrementalism (Homewood, IL; Irion. 58. Gold I. and Rasheed, A. M.A (1997) Rational decision making and from performance. The moderating role of the strategic environment. Strategic management journal 583-591. Grant, R.M (2003). Strategic planning in a turbulent environment: Evidence from the oil major. Strategic Management Journal .491-517 Hambrick, D.C & Fredrickson, J.W (2001). Are you sure you have a strategy? Academy of Management Executive 48-59. Hickson, D.J. Butter, R. J., Gray, D, Mallory, G.R. & Wilson, D.C (1986). Top decision: Strategic decision making in organization (San Francisco): Jossery-Bass pp. 26-42. Priem, R.L; Rasheed, A.M.A and Kotulic, A.G (1995). Rationality in strategic decision processes, environmental dynamic and from performance. Journal of Management, 21 (5) 913-929, Mintzberg, H. (1973). Strategy–making in three modes. California Management Review 44-53. Weintraub, A (2007) Genentech’s amble, business week 44-48: http://www. Fierce pharma.com/special–reports/top-10-best-selling-cancer-drugs/rituxan-3-billon; http://diabets webnid.com/news/2012815/new-drug- for-dibates-related- vision- loss. Voelsteirn, F (2003). Mighty Amazon, Fortune 60-74 Wheelea, T.L & Hunger, J.D. (1987). Using the strategic audit”. SAM Advanced Management Journal 4-12. Stein, J. (2012). Encyclopedias Bristeaica kills its print edition. ABC news (http://abenews.go.com/blogs/technology 2012/03/encydpopedia-britanica-kills-its-print- edition/

Strategic Decision Making: Process and Aid to Better Decision Making in Organizations: A Literature Review Approach

Abstract

References

More Articles from IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT