Business Strategy and Decision Making Essay Example | Topics and Well Written Essays - 2000 words

Business Strategy and Decision Making - Essay Example The practice of an effective strategic management approach helps to conserve continuous refurbishment and expansion of the organisations to proactively deal with a number of potential challenges. Moreover, it also provides adequate support to the leaders to enhance their potentials in decision making process and improve organisations’ credibility within a competitive business market (Hill & Jones, 2011). Emphasising the emerging trend of strategic management processes, the study intends to focus on critically discussing different competitive strategic approaches that enable the organisations to maintain long-term sustainability. In this regard, the discussion of this study represents widely accepted strategic approaches of the modern organisations along with their roles and significance towards helping the leaders to improve their decision making processes. Moreover, the discussion would also incorporate real-world examples of major organisations from different business industry perspectives. In relation to the unconventional trends currently witnessed in the business environment, it has been observed that modern organisations commonly seek to develop advanced strategies and focus on the effective adoption of rational and integrated business steps with the intention to remain sustainable in their respective field of operations for a long-term period. With regard to the changing scenario along with fierce competitive trend currently witnessed in today’s global business environment, the notion of intended and emergent business strategies has evolved as a commonly debated issue (Mintzberg & Waters, 1985). According to the modern phenomenon of the global business environment, there are a number of strategic management approaches that are highly practiced by the organisations to gain competitive advantage over their rivals. In