Question

Imagine a university hired you as a management consultant to devise new strategic actions for 2022. Walk us through the steps that you will take to identity and assess various external forces/variables that might affect your client. Please be sure to present the process within a strategic decision making framework. It is critical to briefly discuss the analytical perspective/lens that you will utilize to analyze this case. Please cite at least 1 resource to support your discussions

Answer 1

Strategic decision making are the decisons that are concerned with whole environment in which the firm operates, the entire resources and the people who form the company and the interface between the two. Strategic decisions have major resource propositions for an organization culture and values. These decisions may be concerned with possessing new resources, organizing others or reallocating others. The most common strategic decision making framework is SWOT (Strength, Weakness, Opportunities and Threat for a company or a product. This is one of the most important element that each company would want to impart. Strategic making aims for long term and short term goals and a mission which will define your company's true picture. Normally, I would take the following steps which are highlighted below:

• Mission and vision philosophy - Strategic decision should begin with a clear idea of your company's goals and mission, the most factor is the business that you are dealing with. Your business is evolved around the economic environment and and you want to make as much money as possible. You infuse certain principles and guidelines that your company should be feasible to grow along with a fast paced industry. Communication with your partners, clients and stakeholders will help to develop and achieve what you want with a positive framework.
• Short and Long term goals - which is basically the day to day operations and activities that you business is conducting, aligning values, objectives, ideas and information. It also impacts the financial condition such as maintaining the correct cash flow, annual budget which provides a true picture of the organization. So all these factors will enable you to move towards both your vision and your longer term objectives. The goals are critical to the strategic decision making process because they guide your choices and provide measurable qualities tou your organization.
• Competitve market certainly creates a major thrust among the company and the client relationship.
• Cost and revenue structure should be in line according to the industry demand
• Product and technology will largely impact the sustainability of the company resources, tools and techniques
• Selecting and training right kind of people also form a cohesive factor
• Selecting different market segment requires some king of research as per the growing needs of the economy.