Question

Strategic decisions are based on what managers _____, rather than on what they _____.


a. forecast; know


b. react to; anticipate


c. know; forecast


d. compromise with; analyze

Answer 1

Answer:

Strategic decisions are based on what managers _____, rather than on what they _____.

The correct answer is- C. Forecast; know

Explanation:

There are four types of strategic decisions we can begin to apply straightaway, whether you are dealing with a familiar situation or a novel one.

• Analytical Decision Making

• Heuristic Decision Making

• Expertise Decision Making

• Random Choice Decision Making.

Answer 2

The correct answer is, (C). Forecast; know.

• Strategic decisions are based on what managers Forecast rather than on what they  know.

What is the strategic management process?

• Strategic management process is a continuous culture of appraisal that a business adopts to outdo the competitors.
• Simple as it may sound, this is a complex process that also covers formulating the organization's overall vision for present and future objectives.

What are the four types of strategic decisions?

There are four types of strategic decisions you can begin to apply straightaway, whether you are dealing with a familiar situation or a novel one.

• Analytical Decision Making.
• Heuristic Decision Making.
• Expertise Decision Making.
• Random Choice Decision Making.

What are strategic processes?

• A strategic process is concerned with making decisions.
• Decisions are made only after data from various sources is received.
• This data is received from both within the organization as well as from the environment outside the organization.

Hence, Strategic decisions are based on what managers Forecast rather than on what they  know.

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