Strategic Management – Decision Making Process and Tools

Running a business requires the ability to make good decisions. One wrong choice can affect the entire company. It is crucial for business owners to understanding the weight behind each decision they make, and to continually improve their decision-making skills.

Some of your decisions will be so routine that you make them without giving them much thought. But difficult or challenging decisions demand more consideration.

Likewise, a basic aspects of starting and managing a business will require formulating the company’s overall mission and goals.

Strategic management enables you to create the company’s mission, objectives and then creating and implementing strategies to fulfill the mission and work toward objectives. Business managers often use a variety of management tools and techniques to aid in making strategic planning decisions.

At the end of this study, students should be able:

• Have a deep knowledge of Strategic Management
• Understand Strategic management process
• Know Strategic Management in Practice
• Understand Decision-making tools and techniques
• Know the Steps in Strategy Formulation Process
• Understand the benefits of Strategic Management
• Know the factors affecting decision making

Course Curriculum