Study of Strategic Decision-making Processes

The focus of this book is on the use of information in the strategic decision-making process by executives in industrial organisations and how these processes have changed in recent years e.g. under the influence of increased availability of information resources. The executive that follows a rational approach collects and uses ample information in a structured decision-making process passing through a number of distinct phases in time. The value of information for strategic decision-making is supported by the results of our research. We observed that in rational decision-making, information relevant to the issues that have to be decided plays a crucial role in each phase of this process; executives have to acknowledge the facts in order to be able to consider an issue. The main reason for the use of information is a reduction of uncertainty needed to obtain the answer to an issue at hand.