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Ch 15: Strategic Management & Managerial Decision Making Overview

About This Chapter

It's easy to work through strategic management and managerial decision-making with your management teams by introducing them to our chapter. This corporate training resource contains short video lessons and self-assessment quizzes that are accessible 24/7.

Strategic Management & Managerial Decision Making Overview - Chapter Summary

You can use this chapter on managerial decision making and strategic management to meet your corporate training goals. Your teams will watch short videos about the strategic management process, the four functions of management and the decision-making process for organizations. Use the entire chapter or just the individual lessons that line up with the concepts you need to reinforce with your employees.

How It Helps

  • Strengthens your organization: Managers who understand how to make sound managerial decisions contribute to the success and strength of your company.
  • Provides knowledge: This chapter provides a thorough overview of decision-making for managers, giving your employees a good understanding of these concepts.
  • Makes training easy: Whether you need a resource to use in a corporate training workshop or to train a new employee, this chapter is for you.

Skills Covered

Your employees should be able to achieve the following objectives once they complete this chapter:

  • Understand how to make quantitative decisions in management
  • Outline the strategic management process
  • Explain business environments and the four functions of management
  • Detail the decision-making process for organizations
  • Discuss decision-making for managers
  • Describe quantitative decision making tools such as payback analysis and decision trees
  • Perform PERT analysis and successfully complete projects
  • Define benchmarking

8 Lessons in Chapter 15: Strategic Management & Managerial Decision Making Overview
Test your knowledge with a 30-question chapter practice test
The Strategic Management Process

1. The Strategic Management Process

We will be reviewing the strategic management process, starting with the four main steps of the process. These steps provide the foundation for understanding strategic management as a whole and will serve you well as you deal with management decision-making situations.

Business Environments & the Four Functions of Management

2. Business Environments & the Four Functions of Management

The business environment and the forces that push against it are something every manager must deal with and learn to work with. In this lesson, we will detail the four key functions of management and review how different forces present in the business environment impact these four key funtions

The Decision Making Process for Organizations

3. The Decision Making Process for Organizations

We will be discussing the formal decision making process for managers. The process will show you how to look at a problem and use a series of steps to address that problem. It is a key element of managerial decision making and one that is very practical for the business environment.

Decision Making for Managers: Certainty, Risk & Uncertainty

4. Decision Making for Managers: Certainty, Risk & Uncertainty

Making decisions with the most amount of certainty is something managers learn to do over time. In this lesson, we will review how managers work with certainty and risk in order to make informed decisions.

Quantitative Decision Making Tools: Decision Trees, Payback Analysis & Simulations

5. Quantitative Decision Making Tools: Decision Trees, Payback Analysis & Simulations

Successful managers use decision-making tools to analyze a problem and try to determine the best solution for that problem. Here, we will discuss three main decision-making tools and help you to understand their function and implementation.

Practical Application: Making Quantitative Decisions in Management

6. Practical Application: Making Quantitative Decisions in Management

Quantitative decision making tools are used by managers in every type of business. Let's practice applying these types of tools to a hypothetical scenario.

PERT Analysis & Project Completion

7. PERT Analysis & Project Completion

Time-based decision methods are used a great deal when a manager or company looks at a time-based project. To ensure the project can be done on time, managers use PERT analysis, a tool for estimating the time it will take to complete a project. This lesson will outline PERT and help you to understand how it is used to predict time based projects.

What is Benchmarking? - Definition, Types, Process & Examples

8. What is Benchmarking? - Definition, Types, Process & Examples

Companies use benchmarking as a way to compare key metrics to other businesses in the industry. This allows companies to see how well they are performing and identify ways they can become more competitive in the industry. In this lesson, we will look at the different types of benchmarking, the stages of benchmarking, and a real world example.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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