Characteristics of decision process are usually influenced by different factors the factors affecting the strategic decision-making in particular the different stages and process can be classified into four major categories 1 decision-specific characteristics, 2 internal organizational characteristics, 3. Factors affecting strategic choice environmental constraints internal organizations and management power relationships values and preferences management`s attitude towards risk impact of past strategy time constraints- time pressure, frame horizon ,timing of decision information constraints competitors reaction process of strategic choice 1.
Factors influencing changes in strategic management may be internal or external to the business organization some of these factors include management functions, structural transformations, competition, socio-economic factors, laws and technology. Economic factors: johnson &scholes (2001) an industry can be influenced on how it operates and make decisions through these factors: disposable income, unemployment, exchange rates , inflation, industries economic growth trends (various countries), interest rates, taxation, government spending levels and money supply.
Internal and external factors have a huge effect on the success or failure of a business business owners can’t control external factors, but they must be able to anticipate and adjust to these factors to keep their organizations on track. Strategic management is the systematic process of analyzing, coordinating and implementing decisions and action plans to achieve sustainable competitive advantage factors influencing changes in. Strategic choices in ngos have been driven by factors like competition, donors’ interest and government regulatory changes and thus lost their first focus to meet the needs of the gap in government delivery of services to its citizens. Influenced by both internal factors and external factors the study recommends that there is need for firms to stress on strategic evaluation process as much as they do planning and.
Factors that influence strategic choices adopted by community based organizations competing for donor funding in nairobi kenya. Factors mainly affect strategic choices in the ngos in nairobi kenya include community involvement in project design, good and the marshalling of internal and external resources to address these priorities in effective organizations, leadership does not reside only at the top.
This study explores strategic decision-making process and factors affect the processes the choice to focus on strategic decisions is due to its nature and significance strategic decisions are long term, highly unstructured, complex, and inherently risky and have great impact on the future of the organization. Winstudent business - career discuss the following factors affecting strategic choices in brief discuss the following factors affecting strategic choices in brief december 5, 2015 mike. Factors influencing strategic management practices among commercial banks in kenya by 1997)thus, a strategy reflects managerial choices among alternatives and signals organizational commitment to particular products, markets, competitive approaches, and ways of operating the enterprise (thompson and both external and internal factors.
Ghani et al carried out a descriptive research study to identify critical internal and external factors towards firm strategic planning among private housing developers of kedah and perlis in malaysia and found out that proactive involvement of government and its support did have an impact on firms' external critical factors thereby creating stable conditions for structured planning however, the study did not address whether this proactive environment facilitates strategic management. Influence of the external environment on strategic decision by tommy charles updated may 21, 2018 environmental analysis is the study of the organizational environment to identify factors that can have an impact, either positive or negative, on the organization itself the external environment’s effect on management and strategy.