Strategic Decision Making: Process, Models, and Theories

Abstract

The theories and models underpinning strategic decision-making (SDM) are somewhat eclectic that demand multidisciplinary approach and appears non-differential from decision-making (DM) theories. This paper is a first attempt that puts the discipline into perspective of its coherent whole. We start by defining strategy and SDM in order to set the expectations for the rest of the paper. Next, we make an outline on the contribution of management science (MS) to SDM before establishing the relationship with MS and its application to micro, small, and medium enterprises (MSMEs). Subsequently, we make a discussion on the SDM process, SDM theories and models before concluding that the discipline has reached maturity.

Decision Making Processes in Online Social Networks: A Comparative Analysis of Health and Financial Online Social Networks

“…However, there is no one pattern that can reveal the cognitive process of decision-makers, and the way they use these phases in OSNs for DM is different. The orders of the DM phases tend to be more anarchical and sequential, following the Mintzberg model [1], [21], factoring in the various dynamics of the DM process and a decision-maker. These results challenge purely rational and anarchical models by recognizing the interweaving of anarchical decision sequences within the structure of rational decision-making phases.…”

“…The research shows that most of the decision-making phases identified by Simon [26,27] and Mintzberg [1], [21] are present in HOSNs and FOSNs, but the sequence of these phases tend to be neither purely anarchical nor rational but a blend of both. The findings of the research have significant practical implications for the design of OSNs that support blended decision-making processes by leveraging the wisdom of crowds.…”

“…The second step in the netnographic research framework involves data selection and collection, a delicate and important procedure that serves many purposes in the research approach [1]. Kozinets [15,16] recommends obtaining three different types of data during the collection process: archival data, elicited data, and field notes.…”

“…As for sequence, neither network follows Simon's sequence or rational human behaviour. The sequence of DM phases tends to be more anarchical and sequential, following the Mintzberg model [1], factoring in the various dynamics of the DM process and a decison-maker.…”

Decision Making Using Multicriteria Analysis: A Case Study of Decision Modeling Career in Education

“…The multicriteria analysis is deployed in order to support the decision-making with emphasis on the following (Anwar et al, 2014;Montibeller & Franco, 2011;Franco & Rouwette, 2011;Franco & Montibeller, 2010):…”