Decision Making Strategies
Decision Making Strategies: Thompson’s Classification
A Review of the Literature
Table of Contents 2
Introduction 3 Description of the main existing theories-approaches and their possible interactions..4
Presentation and discussion............................................................................................5
Relation with Managerial Decision-making...................................................................8
Analysis of the specific problems, challenges, restrictions, and limitations involved………………………………………………………………………………..9
Presentation of practical guidelines when dealing with applications at a managerial level…………………………………………………………………………………..12
Presentation of specific application………………………………………………......13
Indications for future research………………………………………………………..14
Conclusion……………………………………………………………………………15
Introduction
This paper will approach decision-making from a theoretical perspective with a focus on its influence on an organization’s strategic thinking. Analysis is conducted in the main theme of this study. The first part describes the existing theories and approaches in relation to the field under examination, while the second discusses other relevant issues. In the third section, unpredictable factors that might influence the decision-making process are looked into; the fourth discusses potential problems and limitations; while the fifth compares relevant theories. The sixth, seventh, and eighth sections discuss and present the applications to management, applications to a specific organization, and future research, respectively.
Description of the main existing theories-approaches and their possible interactions
Thompson and Strickland (2001) have argued that “decision-making is synonymous to management and assists in the strategic decisions of an
A Review of the Literature
Table of Contents 2
Introduction 3 Description of the main existing theories-approaches and their possible interactions..4
Presentation and discussion............................................................................................5
Relation with Managerial Decision-making...................................................................8
Analysis of the specific problems, challenges, restrictions, and limitations involved………………………………………………………………………………..9
Presentation of practical guidelines when dealing with applications at a managerial level…………………………………………………………………………………..12
Presentation of specific application………………………………………………......13
Indications for future research………………………………………………………..14
Conclusion……………………………………………………………………………15
Introduction
This paper will approach decision-making from a theoretical perspective with a focus on its influence on an organization’s strategic thinking. Analysis is conducted in the main theme of this study. The first part describes the existing theories and approaches in relation to the field under examination, while the second discusses other relevant issues. In the third section, unpredictable factors that might influence the decision-making process are looked into; the fourth discusses potential problems and limitations; while the fifth compares relevant theories. The sixth, seventh, and eighth sections discuss and present the applications to management, applications to a specific organization, and future research, respectively.
Description of the main existing theories-approaches and their possible interactions
Thompson and Strickland (2001) have argued that “decision-making is synonymous to management and assists in the strategic decisions of an
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