Consequences Of Strategic Decision Making
Strategic decision making
For this research, strategic decision making is a main concept and a central part of the proposed research question. Strategic decision making has been described as “a dynamic capability in which managers pool their various business, functional, and personal expertise to make the choices that shape the major strategic moves of the firm” (Fredrickson, 1984; Eisenhardt, 1989). In today’s increasingly competitive global markets strategic decisions directly affect the future of organizations. Managers therefore are responsible to make strategic decisions to control the short-term and long-term goals of their organization.
Strategic decisions are concerned with subjects such as planning and design of organizational
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Many studies argue that strategic decisions are conducted after a precise analysis of circumstances, alternatives, and consequences. In this consideration information on markets, technologies, competition and the social environment affecting the organization plays a crucial role in determining attainable alternatives for a planned strategic decision. Consequently, the availability of sufficient information is a requirement for making the best possible rational decision under the circumstances (Hoskisson et al., 1999; Weirich, 2004; Nutt, 2005). In this context, it can be distinguished between deliberate and emergent strategy. Deliberate strategies are those that are intended and get realized whereas emergent strategies are realized strategies that were never intended (Mintzberg, 1978). A strategy can be described as perfectly deliberate if the intentions of the strategy were perfectly and clear articulated before, broadly accepted throughout the whole organization by al actors and it has to be realized exactly as intended without any interfering by external forces. In contrast to that, a strategy is perfectly emergent if there is order consistency in action over time without being intended. Under these difficult conditions it is hard to imagine that there are hardly any perfectly emergent or deliberate in organizations. Therefore, research has emphasized that both types of strategy are necessary for strategy formation. This means that while strategy can be intended and deliberate it can at the same time be emergent, meaning that the management is open and willing to learn. Consequently, this activates strategic learning through which managers learn what works and what does not work (Mintzberg and Waters, 1985). Many authors e.g. Mintzberg et al. (1976), Nutt (1999) and Johnson et al. (2005) have summarized different conditions for a
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