The Five Steps of Strategic Decision Making Include All of the Following

question 44

Multiple Choice

The five steps of strategic decision making include all of the following except:

• A)Based on strategy and analysis, choose and implement the desired alternative.
• B)Identify the alternative actions.
• C)Determine the strategic issues surrounding the problem.
• D)Select the proper cost management technique.
• E)Provide an ongoing evaluation of the effectiveness of the decision.

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Definitions:

Universal Process Approach

A methodology applied in business and management that emphasizes the use of standardized processes across all operations and regions to achieve efficiency and quality.

Word of Mouth

The passing of information from person to person through oral communication, which can have a significant impact on perceptions and behavior.

Trial and Error

A problem-solving method involving repeated, varied attempts which are continued until success, or until the agent stops trying.

Centralization Principle

A management approach where decision-making authority is concentrated in the higher levels of an organization.