Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

WHO IS RESPONSIBLE FOR MAKING STRATEGIC PLAN AND DECISIONS?

April 26, 2017decisions Plan responsible strategic

0

Posted

WHO IS RESPONSIBLE FOR MAKING STRATEGIC PLAN AND DECISIONS?

1 Answer

1

Posted

Strategic planning is the responsibility of strategic management as it involves overriding issues facing organizations, strategic planning is concerned with planning, directing, organizing and controlling of a company’s strategy-related decisions and actions. The reasons for this are: • Strategic issues require top management decision. • Strategic issues require large amounts of a company’s resources. • Strategic issues are future oriented. • Strategic issues often affect the company’s long-term success. • Strategic issues usually have multiple consequences. • Strategic issues deals with macro environment. We have three levels of management that makes decisions at difficult levels of the corporate hierarchy. They are: (1) Strategic management: this is the management team that operates at the corporate level of a business. Board of directors, chief executive and administrative officers are the principal members of this level of management. Their decisions are unstructured. (2) Tactical