Strategic Decision Making

Introduction

The Advanced Strategic Decision Making course is designed to provide participants with a comprehensive understanding of strategic decision-making processes in a modern business environment. This course introduces advanced concepts and techniques to enhance decision-making skills, enabling participants to make informed and effective strategic choices.

Course Objectives

• Understand the complexities and challenges of strategic decision making in the modern business landscape.
• Develop analytical thinking and problem-solving skills to make sound strategic decisions.
• Learn advanced decision-making frameworks and tools to evaluate strategic alternatives.
• Enhance understanding of risk management and uncertainty in strategic decision making.
• Explore techniques for aligning strategic decisions with organizational goals and objectives.
• Develop skills to communicate and present strategic decisions effectively to stakeholders.

Course Outline

Day 1

 Foundations of Strategic Decision Making

• Introduction to strategic decision making
• Importance of strategic decision making in modern business
• Key concepts and theories in strategic decision making
• Analyzing the external environment: PESTEL analysis, industry analysis
• Analyzing the internal environment: SWOT analysis, resource analysis

Day 2

 Decision-Making Process and Models

• Understanding the decision-making process
• Rational decision-making models
• Behavioral decision-making models
• Group decision-making techniques
• Ethical considerations in strategic decision making

Day 3

 Advanced Decision-Making Techniques

• Game theory and strategic decision making
• Decision trees and scenario analysis
• Real options analysis
• Simulation and modeling in strategic decision making
• Quantitative decision-making techniques

Day 4

 Risk Management and Uncertainty

• Understanding risk and uncertainty in strategic decision making
• Risk assessment and analysis
• Decision-making under uncertainty
• Monte Carlo simulation
• Sensitivity analysis and decision support tools

Day 5

 Implementing and Communicating Strategic Decisions

• Strategic alignment and implementation
• Change management and overcoming resistance
• Communicating strategic decisions to stakeholders
• Developing persuasive presentations
• Monitoring and evaluating strategic decisions