Business Policy

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Strategic decisions are the decisions that are made within the entire operational roles within a corporation. They deal with the entire resources as well as the human capital within a corporation and act as the interface between the resources and the human capital (Kuhn, 2006). They entail the major resource propositions for a corporation (Baden-Fuller, 2004). This may entail the taking into possession new resources as well as organizing and reallocating other resources. Further to the above role, strategic decisions ensure there is harmony in regards to the organizational resource capabilities in contrast to its threats and opportunities. They also matter themselves in making decisions on behalf of the corporation so as to lead it towards what the corporation is aspired to become of as well as what it ought to become. Due to the dynamic nature of corporations, the best way to incorporate the changes therein is through strategic decisions. These decisions are in most cases complex in nature, and are mostly made at the top most level of the corporation. They are characterized with a lot on uncertainty as they are in most cases futuristic in nature. Safe for this, another characteristic is that they are subject to a lot of risks. These are however different to administrative as well as operational decisions as explained by Alexander (1985). This is because the former matter themselves with the organizations routine and are directed towards facilitating the implementation of strategic as well as operational decisions. On the other hand the former matter themselves with the technical decisions that are required for the execution and implementation of strategic decisions. The steward theory is to the effect that managers, if th... ... middle of paper ... ...e Planning, 18(3), 91-97. Retrieved from http://linkinghub.elsevier.com/retrieve/pii/002463018590161X Baden-Fuller, C. (2004). Executing strategic decisions successfully. Long Range Planning, 37(3), 197. Retrieved from http://linkinghub.elsevier.com/retrieve/pii/S0024630104000627 Dess, G., Lumpkin, T., & Eisner, A. (2010). Strategic management : creating competitive advantages. McGraw-Hill Irwin. Donaldson, L., & Davis, J. H. (1991). Stewardship Theory or Agency Theory: CEO Governance and Shareholder Returns. Australian Journal of Management, 16(1), 49-64. University of New South Wales. Retrieved from http://aum.sagepub.com/cgi/doi/10.1177/031289629101600103 Kuhn, T. (2006). The human factor in strategic decisions. McKinsey Quarterly, (1), 4-5. Stanciu, C. O. (2009). Decision Support Systems Architectures, 8. Retrieved from http://arxiv.org/abs/0906.0863
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