Strategy — and the decisions that define it — is what helps an organisation scale new growth, protecting it from stagnation. A lot of research has already been done into strategic decision-making (SDM) — such as which industry to enter, resources to buy, products to develop or who to hire — to see how they are made and how the decision-making can be improved. This paper by Felipe A Csaszar looks at what happens before arriving at a decision, i.e., how different opinions are taken into account, for instance. The study explores why SDM is useful and important, and how various factors — individual biases, the information aggregation process, the organisational structure, etc — influence these critical decisions.
Title: Strategic Decision Making
Source: Social Science Research Network