Characteristics of strategic decisions

1. Are long term.
2. They involve top management.
3. Involve all team players.
4. Must be objective.
5. Involve mission and vision goals.
6. Should be ethical.
7. Strategies should be open.
8. Should comply with strategy guideline. (PPADA 2015)
9. They require resources.

Strategic decisions are long term complex decision made by senior management that will affect the direction of the company or firm.
They take the following issues into consideration:

  • Corporate culture of the organization.
  • Stake-holders expectation.
  • The financial capability of the company.
  • Legal, political and social issues in a particular state or country and also globally.
  • They accommodate technology.
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