Decision-Making Tools versus Strategy
The simplistic way to define the difference between strategy and decision-making tools would be as follows:
• Strategic decisions are long-term, complex decisions made by CEOs, senior management, and board of directors.
• Tactical decisions are medium-term, less complex decisions made by middle managers.
• Decision-making tools aim to meet current objectives stated in strategic documents and plans.
As such, understand that decision techniques are critical to effective management.
• Being specific: In order to find the right decision-making tool, you need to be clear on the decision that must be taken.
• Details: Information is power, so gather ...