Strategic decision making: A review of literature

Abstract

This research deals with the review of researches on strategic decision making and the factors that has contributed to its growth and how it has affected the organisational performance. This study is focused on five major themes; decision making environment; comprehensiveness and speed/timing; Top Management Team (TMT), Chief Executive Officers (CEO's) and Board of Directors (BOD's); communication, information system and decentralised strategy and culture, hierarchical decentralisation and power distance, lateral communication and individualism, formahsation and uncertainty avoidance. It has been established that all these factors will lead to high organisational performance even in a turbulent business environment. The methodological approach of the reviewed researches is based on survey method with the use of questionnaire that makes the studies to be empirical in nature. © Medwell journals, 2012.