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Doreen Zelia
Manager, Seychelles
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Factors in Strategic Decision Making
What are the factors affecting strategic decision making?
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Bill Carter
Business Consultant, United States
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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 are needed 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 to assess the positive 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.
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Bill Carter
Business Consultant, United States
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Quality of Strategic Decisions
The #1 factor impacting the quality of strategic decisions is the depth of understanding an organization has about what ...
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Dr Robin C Hesler, Canada
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The Internal Factors in Strategic Decisons
Don't forget the INTERNAL ASSESSMENT: culture, generation type, governance model are all factors. The mission must be th...
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Mellacheruvu Adi Saasthry
Director, India
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Factors in Strategic Decision Making
Certainly the above mentioned internal and External factors affect the Strategic Decision Making; apart from these I wou...
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Sarkis Yaralian
Director, Kuwait
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Internal Factors in Strategic Decision-Making
I will focus on the internal factors as many have already commented on the external factors (PEST) (with variants: PESTL...
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