Strategic Decision Making Flashcards
1
Q
What are strategic decisions?
A
Big, high risk, major investment decisions that are difficult to reverse
2
Q
What is an example of a strategic decision?
A
To enter a new market
3
Q
What are 3 internal influences on objectives and decisions?
A
Ownership
Business Culture
Power of stakeholders
4
Q
How does ownership have an influence on objectives and decisions?
A
Type of business
5
Q
How does power of stakeholders have an influence on objectives and decisions?
A
Relative power to influence decisions
Stakeholder mapping
6
Q
How does business culture have an influence on objectives and decisions?
A
Resistance to change
Willingness to take risks
