Factors in Strategic Decision Making

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Strategic Planning > Best Practices

Doreen Zelia, Manager, Seychelles
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  Bill Carter, Business Consultant, United States
 

4-7 External Factors in Strategic Decision Making

Strategic planning is the vehicle (process) used to change the direction/operation of an enterprise in order to achieve its goal(s).
We don't plan to remain the same. We plan because something, usually in the EXTERNAL ENVIRONMENT in which the enterprise operates, changes requiring the enterprise to adjust if it is to achieve its goal(s).
The primary factors in strategic decision making is to continually understand what is going on in the external environment (there are 4, some people say even 7 of those external factors needing to be monitored) and assessing the postitve and/or negative impact the external changes will have on the enterprise as it tries to achieve its goal(s).
Once that is understood, you then make adjustments / changes to the strategy and its operating components for achieving your enterprise goal(s).
What this says is that the strategic planning process and its continuous, iterative life cycle within an organization is far more more important than any one plan it produces.

  Bill Carter, Business Consultant, United States
 

Quality of Strategic Decisions

The #1 factor impacting the quality of strategic d (...)

  Dr Robin C Hesler
 

The Internal Factors in Strategic Decisons

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  Mellacheruvu Adi Saasthry , Director, India
 

Factors in Strategic Decision Making

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