Which of the following is a key difference between strategic decisions and managerial decisions?

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journal article

The Academy of Management Executive (1993-2005)

Vol. 18, No. 4, Decision-Making and Firm Success (Nov., 2004)

, pp. 8-12 (5 pages)

Published By: Academy of Management

https://www.jstor.org/stable/4166120

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Journal Information

Effective with the February, 2006 issue the Academy of Management Executive has changed its name to the Academy of Management Perspectives. The overall goal of the Academy of Management journals is to serve the interests of the Academy's members, and the specific goal of the new Academy of Management Perspectives (AMP) is to publish accessible articles about important issues concerning management and business. AMP articles are aimed at the non-specialist academic reader, and should also be useful for teaching. Serving both these goals more effectively requires a change in strategy and direction for the journal. Going forward, Perspectives will concentrate on two types of articles aimed at this thought leader audience. The first are accessible surveys and reviews of contemporary knowledge about management and business issues. The goal would be to make information about empirical research in management accessible to the non-expert, including students, and the focus of the reviews would have to be on the phenomena of business and management, not the development of the academic literature.

Publisher Information

The Academy of Management (the Academy; AOM) is a leading professional association for scholars dedicated to creating and disseminating knowledge about management and organizations. The Academy's central mission is to enhance the profession of management by advancing the scholarship of management and enriching the professional development of its members. The Academy is also committed to shaping the future of management research and education. Founded in 1936, the Academy of Management is the oldest and largest scholarly management association in the world. Today, the Academy is the professional home for more than 18290 members from 103 nations. Membership in the Academy is open to all individuals who find value in belonging.

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Strategic decisions are the decisions that are concerned with whole environment in which the firm operates, the entire resources and the people who form the company and the interface between the two.

Characteristics/Features of Strategic Decisions

1. Strategic decisions have major resource propositions for an organization. These decisions may be concerned with possessing new resources, organizing others or reallocating others.
2. Strategic decisions deal with harmonizing organizational resource capabilities with the threats and opportunities.
3. Strategic decisions deal with the range of organizational activities. It is all about what they want the organization to be like and to be about.
4. Strategic decisions involve a change of major kind since an organization operates in ever-changing environment.
5. Strategic decisions are complex in nature.
6. Strategic decisions are at the top most level, are uncertain as they deal with the future, and involve a lot of risk.
7. Strategic decisions are different from administrative and operational decisions. Administrative decisions are routine decisions which help or rather facilitate strategic decisions or operational decisions. Operational decisions are technical decisions which help execution of strategic decisions. To reduce cost is a strategic decision which is achieved through operational decision of reducing the number of employees and how we carry out these reductions will be administrative decision.

The differences between Strategic, Administrative and Operational decisions can be summarized as follows-

Authorship/Referencing - About the Author(s)

The article is Written By “Prachi Juneja” and Reviewed By Management Study Guide Content Team. MSG Content Team comprises experienced Faculty Member, Professionals and Subject Matter Experts. We are a ISO 2001:2015 Certified Education Provider. To Know more, click on About Us. The use of this material is free for learning and education purpose. Please reference authorship of content used, including link(s) to ManagementStudyGuide.com and the content page url.

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