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  • Essay / SWOT Analysis: Strategic Analysis of Business Strategy

    Bass explains that “strategic decisions take into account the entire organization and are a complex aspect of business planning. Strategy involves making major changes to the organization and recognizing that the business environment is not static and will continue to evolve. The goal of strategic decision making is to implement policy to move the organization toward its long-term goals. Strategy takes into account an organization's resources, threats and available opportunities. He goes on to explain that “operational decisions concern the day-to-day operations of an organization. The countless interactions that take place daily represent the result of operational decisions. These decisions can therefore bog down an organization and make it ineffective. To avoid this, operational decisions must be consistent with strategic decisions. Good operational decisions will have measurable results such as higher revenue, increased profits, increased productivity and customer satisfaction. A company always needs to assess potential risks when deciding to change its methods and strategic decisions represent a risk because these decisions concern the future. Although a company can make strategic decisions based on relevant information, it can never predict the future with certainty. For this reason, a company must take precautions when implementing strategic decisions. Strategic decisions should always be unique to an organization and should be carefully evaluated to determine whether they are likely to have a positive impact on the business. Strategic decisions should always utilize an organization's core competencies and maximize the resources already available and internal competencies should be established to ensure