Strategic decisions are the decisions that are concerned with whole environment in which the firm operates, the entire resources and the people who form the company and the interface between the two. Strategic decisions are made by the top-level management and by the strategists whereas the operational decisions are made by the managers at lower levels. Strategic decision-making is the process of charting a course based on long-term goals and a longer-term vision. Strategic decision making aligns short-term objectives with long-term goals, and a mission that defines your company's big picture purpose. Strategic decision making (SDM) is of great and growing importance because of five characteristics of strategic decisions (SDs):
(a) they are usually big, risky, and hard-to-reverse, with significant long-term effects,
(b) they are the bridge between deliberate and emergent strategy,
(c) they can be a major source of organizational learning,
(d) they play an important role in the development of individual managers, and
(e) they cut across functions and academic disciplines.

Activity: Select any organization (public or private institution) and develop strategic decision using the below given processes of strategic decision-making. The problem you are going to select should be issue which demand strategic decision. Is could be social; economic; political; technology; environmental, etc. For the selected problem, undertake thorough diagnosis and analysis on each and every process supporting with data/evidence you will collect from the selected organization.
1) Evaluate current performance results
2) Review corporate governance
3) Scan and assess the external environment
4) Scan and assess the internal corporate environment
5) Analyze strategic (SWOT) factors
6) Generate, evaluate and select the best alternative strategy
7)Implement selected strategies
8) Evaluate implemented strategies.