Strategic decision-making involves a systematic approach:
Analyzing Data: Collecting and interpreting relevant data to inform decisions. Consulting Stakeholders: Seeking input and feedback from key stakeholders, including employees, customers, and investors. Evaluating Risks: Assessing potential risks and benefits associated with different options. Setting Priorities: Determining which actions will have the most significant impact on the company's success. Implementing and Monitoring: Executing the chosen strategy and regularly reviewing its effectiveness.