Types of decisions
There are three types of decision in business:
Strategic decisions = long term, complex decisions made by senior management. will affect the entire direction of the firm. (to become the market leader)
Tactical decisions = medium term, less complex decisions made by middle managers. follow on from strategic decisions and aim to meet the objectives stated in any strategic decision. (to become the market leader, a firm may have to launch new products/services)
Operational decisions = day to day decisions made by junior managers that are simple and routine. (regular ordering of supplies or the creation of a staff rota)
Role of managers
Managers have different jobs/roles they undertake in order to be efficient and effective.
- Plan - to prepare…