User:Pamela.echegaray/StrategicDecisionMaking

Strategic Decision Making
Strategic decision making is a management term, this process is part of the strategic management is a managerial process in which strategic decisions are made, it is exclusive for the top managers. The strategic decisions are large - scale, risky and  hard  to  reverse decisions. This set an emerging strategy that involves a crucial process to achieve success and survival of acompany. The strategic decisions making to be efficient needs to build a consensus to make and implement strategic decisions succesfully.

The strategic decision making can be affected by the Cognitive bias, they can affect the way that people process information and make important decisions. That can cause that the managers may make poor strategic decisions. It exist a List of cognitive biases that have been verified repeatedly by cientists. It exist evidence that the human beings then to prone to them.

=== Strategic Decision Making Process    ===

The strategic decision making process it is necessary to follow the next steps:

Identify Problems
First we need to recognize that there is a decision to be made. Strategic decisions are complex, they address to an specific problem, need or opportunity.

Seek Information
Managers need to clarify their options once they have identified an issue that requires a decision. Managers may seek relevant information about an issue.

Brainstorm Solutions
When the manager have a more complete understanding of the issue, the managers move on to make a list of potential solutions. This step can take some hours, weeks or moths depending on the difficulty of the issue.

Choose an Alternative
Managers need to weigh the pros and cons of each potential solution, and after that seek for aditional information if needed, Then with all the options on the table they chose the best chance of success proposal. It is always important to look for external advice or a second opinion.

Implement the Plan
Once you have made a decision there is no time to second guess you are going to implement your strategic decision in action. You have chosen an strategic planning so you need to start using it with conviction. It is important to say that the manager can change the strategic plan if the results are not what expected. Strategic plans usually count with monitoring systems in order to evaluate the outcomes of the decisions.

Evaluate Outcomes
Even the most experienced business owners can learn from their mistakes. Always monitor the results of strategic decisions you make as a small business owner; be ready to adapt your plan as necessary, or to switch to another potential solution if your chosen solution does not work out the way you expected.