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Dimensions of Strategic Decisions (Characteristics)

      

Dimensions of Strategic Decisions (Characteristics)

  

Answers


Faith
1. Strategic issues require top management involvement in decision making. This is because
it is only at this level of management that there is a perspective to understand the broad
implication of the strategy and the power to authorize the resources necessary for
implementation.
2. Strategic issues involve allocation of large amount of company resources the people, the
physical assets or money needed must either be directed from internal sources or secured
from external sources in either of these cases. Strategic issues tend to commit a firm to
extreme cases of an extended period of time.
3. Strategic issues are future oriented and its decisions are based on what management
anticipates /focuses rather than what they know. The emphasis is on devising schemes
that will enable the firm to select the most promising strategic options.
4. Strategic issues are pervasive in nature normally affects the division or department or
have multifunctional consequences.
5. Strategic issues have a significant impact over a prolonged period of time which in most
cases is five years.
6. Strategic issues require management to consider factors in the firm’s external
environment.
Titany answered the question on October 19, 2021 at 07:43


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