Making high quality strategic decisions

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Authors
Vichare, Nirav
Issue Date
2020
Degree
MBA in Project Management
Publisher
Dublin Business School
Rights
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Abstract
Purpose: The research aims to analyse the process incorporated in a high-quality strategic decision. This research aims to analyse various influencing factors of strategic decision making and decision-making models used for a high-quality strategic decision. It also aims to determine the challenges and issues faced by the managers in the strategic decision-making process. Design/methodology/approach: The research employed a qualitative research method for gaining an in-depth understanding of the process. Primary data is gathered with a semi-structured interview conducted with 16 participants having adequate knowledge of this process. Findings: It can be concluded that high-quality strategic decision-making is essential for an organisation for attaining a competitive position in the market. The tools used by the organisations are root cause analysis, 5 Why analysis and market research that is used by the managers for enhancing the quality of strategic decisions.