Decision-Making Models Flashcards
Strategic Decisions
These are long-term decisions that affect business direction on a large scale. They are often complex involving high financial commitment, with high risk.
Examples of Strategic Decisions
-Major organisational change
-Market Penetration
Who undergoes Strategic Decision Making?
Senior Management
Tactical Decisions
These are middle-term decisions that often set up strategic decisions. These are less complex and more flexible than strategic decisions.
Examples of Tactical Decisions
-Assigning tasks to team members in a project
-Launching a social media campaign
Who undergoes Tactical Decision Making?
Middle Management
Operational Decisions
These are day-to-day decisions made in the business. These can be made quickly as they carry little weight or risk.
Examples of Operational Decisions
-Scheduling Employees
-Determining Delivery Routes
Who undergoes Operational Decision Making
Junior Management
Scientific Decision Making
Involves the use of facts and data to approach a decision in a systematic and logical way - supported by evidence.
What is the process behind Scientific Decision Making
Find the problem, Collect Information, Analyse the Information, Make and Implement a Decision, Monitor and Review the Decision.
Intuitive Decision Making
Uses experience and intuition to make decisions. Can be made quickly and are often useful for operational decisions.
Qualitative Factors
-Stakeholder views
-Marketing Impacts
