Anderson Literature Review- Graded.docx - Running Head LITERATURE REVIEW DECISION MAKING 1 BUSI 770 Strategic Thinking Decision-Making Literature Review

Anderson Literature Review- Graded.docx - Running Head...

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Running Head: LITERATURE REVIEW: DECISION MAKING1BUSI 770 Strategic Thinking Decision-MakingLiterature Review: Decision-MakingRichard AndersonLiberty University5 July 2019Respectfully Submitted to Dr. Jonathan Philebaum
Literature Review: Decision Making2AbstractThis paper will offer an insight into the strategic development and execution of strategies. In order for these strategies to be determined, they must be chosen by a group of designated leaders or an individual. The advantages and disadvantages of strategic development and execution regarding a group or individual will be discussed. To impact the direction of a business, a professional must be knowledgeable about their organizational culture and values. Utilizing a SWOT analysis would be a good start to the strategic development process. The SWOT analysis stands for strengths, weaknesses, opportunities, and threats of new entrants. After the use of a strategy development method as this, a business professional would focus on how the organization plans to execute the strategy. Lastly, business students will need to evaluate their academic discipline to determine how they can impact business strategy development and the execution process. Future studies on this subject will be to be conducted to further the investigation of strategic development and execution.Keywords: management, execution, organization, executive, decision making
Literature Review: Decision Making3Table of ContentsAbstract.......................................................................................................................................................2Table of Contents.........................................................................................................................................3Literature Review: Decision-Making..........................................................................................................4Advantages and disadvantages for a group and individual decision-making...............................................5Pros and Cons involving individual and group decision-making..........................................................................5Evaluation of group decision-making....................................................................................................................5Evaluation of individual decision-making...........................................................................................................9The newest directions in strategy development and execution..................................................................13Methods in strategic development and execution....................................................................................................14Employing strategy development.........................................................................................................................14Influencing the successful execution of strategies.........................................................................................17Students impact the process of business strategy development and execution...........................................20Scholars direction and impact on business strategy and execution....................................................................21Scholars direction and impact on execution success..............................................................................................24Conclusion.................................................................................................................................................28References.................................................................................................................................................29
Literature Review: Decision Making4Literature Review: Decision-MakingIn business, strategic thinking and decision making are vital to the success of leadership and the corporation as a whole. Without these two concepts, it would be difficult for a corporation to fulfill its goals and objective and its effectiveness. According to Gamble, Peteraf, and Thompson (2019), business strategy is determined in advancing a firm's market status and then creating a competitive advantage. The corporate strategy will set an overall professional business procedure that will be utilized for a set of companies. In order for a firm to create these strategies, they must have some sort of brainstorming session or a method to evaluate their current business position status.

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