Theoretical Aspects of the Strategic Management Decision-Making of Companies

This chapter analyses theoretical aspects of decision making within the strategic management process in companies. To make decisions it is necessary to analyse the problem from the knowledge and understanding of it; problems do not always have similar conditions and there are risks involved in a mechanical response or an intuitive approach. In the business context, the consequences of a bad or good choice can have repercussions on the success or failure of the organization. Good decisions are not easily achieved, they are the result of an arduous and orderly methodological process. Robbins and Coulter (2018) propose, for example, four perspectives on the way managers make decisions: rationality, limited rationality, intuition, and evidence-based management. The study of decision-making has long been of interest by numerous researchers.