Strategic Management: Are Groups the Best Way to Make Decisions?
Strategic Management: Are Groups the Best Way to Make Decisions?

Author(s): Juliana Osmani
Subject(s): Social Sciences
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Strategic management; Group decision-making; Firm performance
Summary/Abstract: Strategic management is the process with the greatest impact on firm’s success or failure. Through the analysis of the current situation and the situation in which the company wants to be, strategic management has the responsibility for its growth. Risk and uncertainty are common conditions for strategic decision-making. Considering that the external environment is becoming increasingly unpredictable and also the bounded rationality, companies are more oriented towards the use of groups, especially for strategic decisions. The main purpose of the current research is to investigate the use of groups in strategic decision-making. Through a quantitative approach, this research upgrades the evidence arising from the existing literature by providing new elements to support a deeper understanding of the effects of the way strategic decisions are made on firm performance, enhancing the knowledge base in the field of strategic management.

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