Decision making models

Question 1

Strategic decisions

Answer 1

part of long term plan to achieve business aims and objectives, usually by senior managers.

Question 2

tactical decisions

Answer 2

made by middle managers in medium term threats or opportunities the business faces. Easier to change than strategic decisions.

Question 3

operational decisions

Answer 3

short term decisions made by junior managers that are simple and routine. involves staff rota or ordering supplies.

Question 4

Why decision making is important

Answer 4

Once a decision is made, difficult to stop any processes that have been instigated, hiring new employees.
Decisions can have far reaching implications, success of new product
wrong decisions can cause financial loss and ultimately result in business failure.