https://flipsimu.com/dice-roller/roll-d4/ What Is The Purpose Of Strategic Decision Making? Strategic decision-making is a technique of analyzing the interplay of choices and their effects on the company to gain advantage. Wrong decisions taken at the wrong time, may result in catastrophic consequences. Strategic thinking involves making use of the power and the timing of the right decisions. To stay competitive and thrive to survive, companies need to make choices that yield the best results in the short term and reduce risk over the long run. Strategic decision-making can reveal the future possibilities of the business and the possibilities that could aid in achieving its goals. Data-driven and strategic strategies are becoming popular in the world of business. Strategic decision-making is the combination of five steps in the decision-making process and the notions of opportunity, threat, countervailing factors, risk, and loss. The strategy of strategic decision-making is the heartbeat of your company. As the owner of your business you are accountable to make choices that aid your business to survive, grow and thrive.