Write short notes on Strategic Decision Making

Strategic level management is concerned with developing of organizational mission, objectives and strategies. Decisions made at this level of organization to handle problems, which are critical to the survival and success of the organization, are called strategic decisions. They have a vital impact on the direction and functioning of the organization as, for example decisions on plant location, introduction of new products, making major new fund raising and investment operations, adoption of new technology, acquisition of outside enterprises and so on. Much analysis and judgment go into making strategic decisions.

In a way, strategic decisions are comparable to non-programmed decisions and they share some of their characteristics. Strategic decisions are made under conditions of partial knowledge or ignorance.

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