summary of Business strategy: A guide to Effective Decision making.
ESSAY
SUMMARY OF CHAPTER 2, 3, 4, 8, 12
Business strategy: A guide to Effective Decision making.
Kourdi, Jeremy
Introduction
Strategies decisions depends highly on perceptions, people’s attitudes and assumptions, therefore they are rarely straightforward or simple. Strategic decisions determine the direction as well as success of an organization, which is why it is essential for decision-makers to understand the decision-making process in order to make the right decisions.
Chapter 2, 3, and 4 focus on introducing forces which will form a decision, including ideas, developments and potential pitfalls. In chapter 4, a practical and useful framework is also created to guide step by step in a decision-making process.
Chapter 8 outlines insights and techniques for implementing and improving decisions in order to have a competitive strategy. Chapter 12 introduces forces which will have affection in sales, marketing and brand management decisions.
It is necessary to understand the decision-making process and other involved factors to be able to create a practical and competitive strategy. Right decisions will make a huge impact on company’s directions as well as success in the future.
Chapter 2: Ideas at Work
Setting a strategy has always been complex due to the changes that company has to face over time. There are several factors that will affect the decision making process.
Decision-making approaches
The classical administrator
The classical administrator, which was founded by Henri Fayol, has become the most traditional model of the decision-makers or strategists. A set of common activities and principles of managements was developed and divided into five sections: planning, organizing, commanding, coordinating and controlling.
Planning involves setting the goals of the organization and developing an action plan for future success.
Organizing involves structuring the organization and using necessary resources to
SUMMARY OF CHAPTER 2, 3, 4, 8, 12
Business strategy: A guide to Effective Decision making.
Kourdi, Jeremy
Introduction
Strategies decisions depends highly on perceptions, people’s attitudes and assumptions, therefore they are rarely straightforward or simple. Strategic decisions determine the direction as well as success of an organization, which is why it is essential for decision-makers to understand the decision-making process in order to make the right decisions.
Chapter 2, 3, and 4 focus on introducing forces which will form a decision, including ideas, developments and potential pitfalls. In chapter 4, a practical and useful framework is also created to guide step by step in a decision-making process.
Chapter 8 outlines insights and techniques for implementing and improving decisions in order to have a competitive strategy. Chapter 12 introduces forces which will have affection in sales, marketing and brand management decisions.
It is necessary to understand the decision-making process and other involved factors to be able to create a practical and competitive strategy. Right decisions will make a huge impact on company’s directions as well as success in the future.
Chapter 2: Ideas at Work
Setting a strategy has always been complex due to the changes that company has to face over time. There are several factors that will affect the decision making process.
Decision-making approaches
The classical administrator
The classical administrator, which was founded by Henri Fayol, has become the most traditional model of the decision-makers or strategists. A set of common activities and principles of managements was developed and divided into five sections: planning, organizing, commanding, coordinating and controlling.
Planning involves setting the goals of the organization and developing an action plan for future success.
Organizing involves structuring the organization and using necessary resources to