LITERATURE REVIEW 1
Literature review
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Instructor
Institutional affiliation
Date
LITERATURE REVIEW 2
Literature Review
a) How individual and group decision processes aid or impede business decision making?
Literature review in academic writing tends to explore the current knowledge in research
in an attempt to demonstrate an in-depth understanding of the study. This paper will present and
discuss in detail, review on how individual and group decision making processes aids in
impended decision making. Also, a review and discussion on the newest directions in the process
of strategy development and execution will be discussed, and finally, the various ways in which
my academic discipline impacts the process of business strategy.
Organizations mainly operate through people making decisions. It is the role of the manager to
plan, organize, staff, lead, and control his/her team through the execution of decisions that
determines the success of the manager in accomplishing the organization's goals. Also, in every
organization, there are problems that require critical decision making to solve these problems.
The process of decision making varies in organizations, some taking a short time while others
take time. The decision-making process may involve an individual or a group depending on the
nature of the issue at hand. The individual decision-making process involves a single person in
making the decision, usually the organization leader or the manager, whereas group decision
making involves a decision made by a number of individuals in an organization.
Decision making in an organization is an important process that keeps the business running.
Without decisions, companies would not develop new products, hire competent employees, or
restructure. Decision making in the business plays a significant role in the planning process and
setting of goals in an organization. Also, decision making is an important element in the
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management as it assists in establishing strategies, creating new products, budgeting, hiring
competent employees, among others.
Decision Making Process
The decision-making process involves making choices through the identification of a decision,
gathering of the necessary information, and also an assessment of alternative solutions
(Hausmann, Zulian, Battegay & Zimmerli, 2016). The decision-making process involves
choosing a single course of action among the available alternatives. The process uses different
tools and techniques for developing the best strategic plan. The process follows a number of
processes from the identification of a decision to its evaluation.
The initial step entails identification of the problem, which undergoes a thorough analysis to
understand the issue at hand, the reason for solving the problem, whom the problem affects, and
understanding of the problem has a timeline. The next step entails gathering the necessary
information by involving the stakeholders involved in the problem. The other step in the
decision-making process involves applying the principle for judging the alternatives. The
principle takes into consideration the organization's culture as well as the set goals of the
organization. Brainstorming and analysis of the available choices is the next step in the decision-
making process. Brainstorming involves understanding the causes of the problem by use of a
cause-and-effect diagram, which helps in identifying all the causes of a problem. After
identifying the problem and its cause, the evaluation of alternatives is done. The evaluation
involves the application of decision-making skills and effective judgment principles in
evaluating all the alternatives considering their advantages and disadvantages. The sixth step
involves selecting the best alternative in the decision-making process, after which the decision
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selected is executed. Finally, evaluation of the process is done to assess the effectiveness of the
decision made (Nooraie, 2008).
In the decision-making process, it is always important to consider and weigh the positives and
the negatives of the decision. The decision should be in favor of the positive impacts on the
business. In so doing, it ensures that the organization is protected from losses and ensure the
sustainability of the organization
Individual decision making
Individual decision making involves decisions made by one individual without involving
others in the organization. These kinds of decisions are usually quick as they do not require
consultation and are also not expensive. Individual decision making is a skill that every manager
or team leader should learn in an organization. This helps the leader in making decisions without
relying on others in making personal decisions. Also, it is important to be independent decision-
makers to avoid problems when it comes to decisions that need you to make decisions without
depending on others ("INDIVIDUAL AND GROUP DECISIONS," 2019). Individuals in an
organization make while making individual decisions; they choose between two or more
alternatives. Usually, the process starts with identifying the problem, a disparity between the
current and the desired outcome. Individual decision making involves a rational process of
decision making where individuals make. The steps in individual decision making include
identifying the problem, identifying the decision criteria, weighing the previously identified
criteria, generating possible alternatives, rating each alternative on each criterion, and finally
computing the optimal decisions. The process takes into consideration assumptions such as lack
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of biasness on the decision made, there is complete information, and the decision would result in
a maximum payoff.
Individual decision making is advantageous in an organization as it is prompt and does
not need consultations to execute hence saving on time. Therefore, compared to group decision
making, individual decision making is desirable in situations that require an instant decision
making. There is no need to assemble group members in the individual decision making which
saves on time. Also, individual decision making ensures accountability. Leaders are responsible
for their actions, which is not possible in a group decision-making process in case of a wrong
decision. Another advantage of individual decision making is that it saves the organization time
in decision making and also tends to save the organization consultation fees as the decisions are
usually prompt.
Although individual decision making has advantages, it also has its limitations in the
business. For instance, individual decision making relies on an individual's intuition an own
views, unlike in group decision making where a number of individuals are involved in the
process. This means that in case of a wrong decision made by one individual, it is impossible to
criticize the decision, which may have negative impacts on the business. Also, individual
decision making has a limitation on the collection of information as compared to a group
decision making while making a decision. Such limitations may lead to poor decision making,
which may have negative implications for the organization. Another limitation of individual
decision making is that it does not provide an opportunity for other staff members in the
decision-making process to express their views, which may contribute to the growth and
development of the organization. Thereforeit is always advisable to consider adding other
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individuals to the decision making the process as a way of improving the decision making,
especially with the decisions with significant consequences should the wrong decision made.
Group decision making
Group decision making is a participatory decision-making process whereby a number of
individuals work collectively in analyzing a problem or a situation, considering and evaluating
other possible solutions to the matter at hand and deciding on one possible solution. The number
of individuals in the group decision process may range from two individuals to around seven
individuals. The members are similar demographically or may be diverse, formal or informally
designated or given specific goals. The effectiveness of the decision-making process in a group
is accelerated by external factors such as pressure in time and the set goals.
The group decision process involves several methods that are intended to develop and improve
the process of decision making. Brainstorming is one of these methods in which members of the
group suggest ideas verbally. The issue at hand is analyzed in detail by the group to understand
the problem or issue well in the unstructured session. After describing and understanding the
matter well, the facilitator then collects ideas of the group members, which are usually recorded
on the marker board. During this period, two stages are involved, that is, generation of
alternative and alternative evaluation stages since the ideas are not evaluated until the
presentation of all the ideas is completed. The process of evaluation of ideas commences once all
the ideas are presented. This process of brainstorming in the decision-making process is useful in
the generation of alternatives, although it does not have an impact on evaluating alternatives. The
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only challenge of this process is hesitant among the group members to propose their ideas in fear
of ridicule and judgment from the other group members.
Another group decision-making method involves rational inquiry, a technique used in the group
decision process to ensure that all alternatives are considered. The group is divided into two
opposing sides on which they debate on the proposed decisions. It may also a member of the
team to highlight some of the disadvantages of the proposed decision. The nominal group
technique is also a decision-making process where the group members develop a comprehensive
list indicating their proposed ideas and alternatives. This process is usually conducted privately;
then the members present their ideas an item at a time until all their ideas are recorded on a
marker board. After the recording of the ideas, the listed ideas and alternatives are discussed
based on their advantages and disadvantages (Viedma, 2016).
Delphi technique entails a group decision process when members are in a different physical
location. selection of the members is based on their knowledge of the problem at hand. The
members are required to provide ideas independently for the success of the decision-making
process. The ideas may be shared through fax, email, or online discussion platform. Discussions
are held on the identified alternatives until a consensus decision on the best action is arrived at.
How Group decision making aid on business
This process also aids business decision making by taking full advantage of the expertise
and diverse strengths in the members. Tindale & Winget (2019), support this argument in their
conclusion that tapping the exceptional qualities of all the members allows the group to generate
countless alternatives that are generally more quality compared to individual decisions.
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Furthermore, the group decision process aids business decision making by utilizing the collective
understanding of a selection decision. This creates ownership of the decision, which contributes
commitment to the decision. Despite these crucial ways that group decisions aid decision
making, certain aspects impedes this approach. In most organizations, groups take too much time
to arrive at decisions compared to individuals. According to Mukherjee et al., (2016), this
concern makes it quite challenging to utilize them in occasions where decisions are required
relatively fast. Another way that group decision impedes decision making is by group
polarization. The predisposition of a group to converge on more extreme solutions and in most
cases, often results in the risky shift phenomenon.
Both individual and group decision-making processes have their pros and cons in the business
decision making process. We see that group decision making has advantages over the individual
decision-making process. The advantage of group decision making is the synergy and sharing of
information. Through a collective decision making the judgment is always keen compared to that
of a single member. Robust solutions are arrived at through questioning, discussion, and
collaboration among the group members. Also, the sharing of information among the group
members is another advantage of group decision making. This is because the group decision-
making process takes incorporates a broad spectrum of information as each group member may
contribute their unique skills in decision making. Also, by sharing of information, there is an
increase in understanding clarification of issues, and also facilitation towards a collective
decision making.
The decision-making process between individual and group decision process chosen is
determined by the specificity of the situation. For instance, when there is an emergency, the most
preferred decision-making process would be individual decision making. Individual decision
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making would also be appropriate in case the individual has access to the information required in
making appropriate decisions, and no implementations are required. If the above does not apply,
then group decision making is the most appropriate.
b) Newest Directions in the process of Strategy Development and execution
Business strategy development is an important factor that determines the success of the
business through an effective business strategy. The strategy is said to be effective when it works
towards achieving the aex AERd organization's goals, which, when realized, valuable products
and services are created. A strategic plan in an organization is the key to translating the business
strategy into actions which, on execution, bring the desired results. The strategic development,
therefore, is fundamental in developing and running a successful business.
The newest directions in the process of strategy development, according to contemporary
researches, ought to identify strategic options by choosing the most promising possibilities while
deciding the allocation of resources in the organization in order to archive the desired objectives.
Thompson, Strickland & Gamble (2015), argue that the critical resolve for strategy development
is to identify and establish the organization's long-term as well as short-term opportunities by
adopting the newest directions. The first direction in this process includes clarifying the vision of
the organization. This involves defining short and long-term goals. According to Thompson, Str
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ickland & Gamble (2015), the set objectives should be realistic, detailed, and fit the core values
of the organization.
Secondly, adequate data should be gathered and analyzed. This analysis allows the
management to understand all the needs of the organization as a suitable entity. According to
new directions, it is essential to examine any possible internal and external concerns that could
influence the goals of the organization. Other directions involve formulating strategies and
evaluating and control of the strategy. On formulating a strategy, Thompson, Strickland &
Gamble (2015), propose that the business should determine the existing resources that could help
it reach the set objectives. In this stage, all the issues that the business is facing must be
prioritized.
Sull, Homkes, & Sull (2015), in their article “Why strategy execution unravels—and
what to do about it” holds a different opinion on strategy execution and further provides
significant insights to new approaches and directions. The authors propose that strategy
execution should be conducted in relation to the newest step by step directions. The new
direction in the execution strategy includes visualizing the strategy before executing it. This
could be achieved by utilizing the available frameworks such as the Success Map, Activity Map,
or the Strategy Map by Norton and Kaplan. Another direction in executing a strategy is reporting
progress. According to Sull, Homkes, & Sull (2015), the strategy under this stage ought to be
reviewed continually with emphasis on determining whether the strategy is providing the
expected results.
Managers should also identify strategy projects. This new direction implores business
managers to organize and capture all projects during the execution process. In this case,
researchers argue that organizations should have a clear understanding of the range of projects.
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Another direction in execution is reward performance. Upon explaining and aligning the strategy
to the personnel, senior managers ought to institute incentives that aim to drive behaviors that are
relatively consistent with the strategy.
Strategic planning
Strategic planning is the process where leaders in an organization determine the vision of the
organization for the future identifying the organizational objectives and goals. The strategic
planning also entails identifying and coming up with the plan in which the goals will be realized
in order to achieve the vision of the organization. Strategic planning usually leads to the
development of a strategic plan, a document articulating the goals of the organization, and
measures to be used in achieving these goals. The strategic plans are guiding principles to the
leaders in an organization while making decisions (Mazza, 2013).
The process of strategy development is usually comprised of a strategic development framework
and committee, which leads to the process of strategy development. The committee is comprised
of all the representatives of the organization working openly and transparently documenting the
information throughout the process. The committee works through conducting research and
gathering the information needed in understanding the current status of the organization while
evaluating factors that may help in meeting the goals of the organization. The strategic
development committee uses different methodologies that are used in guiding leaders in the
decision-making process. The frameworks involve a series of steps, which include, assessment
stage, formulating the strategy, and finally articulating and communicating the course of action
in the realization of the organization's strategic vision (Mazza, 2013).
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Also, in the new direction on strategy development involves the creation of benchmarks that
enable the organization to determine the performance against the organization's objectives and
goals. Also, the process identifies executive that would be in charge to ensure benchmarking
takes place on planned time and making sure specific objectives are met.
The process generally has five phases which include, assessing the current strategic direction of
the organization, identification, and analysis of internal and external strengths and weaknesses,
formulation of action plans, and finally evaluating the degree of success of the action plans.
Another important part of strategic planning is effective communication, collection of data, and
the culture of the organization. Communication is an important aspect to prevent misalignment
of the strategic plans of the organization. Therefore, in the new direction, strategy development
entails a detailed analysis of the decisions before they are implemented to ensure alignment of
the decisions with strategic plans.
SWOT analysis framework.
This is one of the strategies development framework that the organization uses in building and
testing their strategies. The SWOT analysis differentiates the strengths and weaknesses of the
organization and identifies external opportunities and threats of the business environment. This
framework is important as it analyses the external, internal as well as other factors baring
impacts on the goals and objectives of the organization. SWOT is an important process used by
the leaders to determine the effectiveness of the resources in attaining the objectives and set
goals of the organization.
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Strategy execution
Effective execution of strategy entails focusing on the most effective methods involved in
the successful implementation of an organizational strategy. The strategy includes factors such as
leadership, culture, capabilities organizational design and incentives (정은정, 2013). The
effective strategic execution provides organizational managers with a structured implementation
approach in the areas they experience execution challenges. Effective strategic execution may be
viewed as a process or a system. Strategic execution involves the processes that are put in in
place in order to implement plans and strategies in achieving the organization’s strategic goals.
The following are processes for effective strategic execution in an organization (Levenson,
2017).
Visualize the strategy: it is important to understand the strategic plan through visualizing
the strategies that indicates the important elements of the strategic plan.
Measuring the strategy: the key elements of the strategies should be presented with an
understandable execution plan for assessing the progress made in achieving a strategy.
Report progress: in order to ensure success in an effective strategic execution, it is
important to ensure that the strategies are producing results through assessing the
progress.
Make decisions: in an effective strategic execution, leaders are required to ensure
strategic decisions are made in keeping the strategies current.
Identify strategic projects: to ensure effectiveness in an organization's strategic execution.
It is important to organize projects that are ongoing in the organization to keep track of
the progress made in the execution plan.
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Aligning strategy projects: the identified projects are aligned with respect to the strategic
plans of the organization and comparing the projects with the strategic goals. This helps
in identifying the projects that should be continued and resourced.
Managing the projects: it is important to develop capabilities in managing the project for
effective strategy execution to control and monitor the progress and also how the project
is performing.
Communicate the strategy: the other process entails leaders communicating the strategic
plan effectively to the employees so that they may understand their role in achieving the
goals of the strategic plan.
Aligning individual roles: the management should ensure that employees at all levels are
appreciated for their contribution to the organization's success. Also, they should
understand their roles in the execution of the organization's strategic plan
Rewarding performance: the final process of ineffective strategy execution is rewarding
of the accomplished goal. This ensures the strategic plan is done effectively and
completed in time.
Strategic thinking
Strategic thinking is a process that entails assessing the business and the areas in which
the organization is involved in understanding potential competitors, setting goals, and strategies.
Therefore, strategic thinking is an important aspect to maximize the companies productivity and
financial returns while maximizing the return on people. In order to have a competitive
advantage, strategic thinking on management, improvement in operational effectiveness, and
developing unique activities is essential (Sanders, 2011). The strategic planning aims at attaining
an organization's competitive advantage without affecting the needs of customers, the
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organization, and also without compromising the needs of the staff in the process. The success of
an business depends on its strategies on the utilization of resources, skills, and available
expertise. The essential strategic thinking criteria include the following:
Determining that the organization's skills and competencies, type of the organizational
structure, and resources are combined effectively to achieve the desired outcome. This enables
the organization to identify its weaknesses and strength hence creating an effective competitive
advantage and also helps in identifying its vulnerability. The organization is able to sharpen their
strategies by tracking the strengths and strategies of their competitors.
Through strategic thinking, a company has a broadened view of things, thereby
improving their vision. The business is directionless without a vision, and without a strategy, it is
impossible to achieve the vision. Therefore it is important to develop strategic thinking in
solving problems and enhancing teamwork. Through strategic thinking, a clear vision is
developed, which helps the organization to develop and integrate viewpoints such as market
view, environmental view, and project view.
The effective measuring process to evaluate the plans and their effectiveness should be designed.
Incorporating all employees in the implementation of strategic plans developed through a
strategic process is important in achieving the organization's goals.
Decision-making model
The decision-making model in the execution of an organization is essential in
avoiding the repetition of previous mistakes. The model of these decision making for
effective strategic execution entails the following:
Harnessing of different decision-making frameworks: strategic planning should ensure it
provides effective decision-making frameworks in achieving the organization's goals.
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These frameworks help leadership on how to achieve strategic plans efficiently. The
frameworks may include brainstorming ideas, analyzing alternatives, weighing, and
ranking the ideas.
Ranking of multiple priorities: ineffective execution of strategies, it is important to rank
multiple priorities in the decision making the process in order to meet multiple goals.
However, this can be difficult to achieve hence the need for decision-making models to
avoid decision-making setbacks such as being shortsighted in the project, continuing with
a project only because it was initiated, being afraid of the unknown, and being distracted.
Quantify the decision-making approach: it is important to quantify the approach that
translates to data-driven tools.
Pruning of projects that are not productive: The decision-making process helps in
identifying an unnecessary project to do a halt. Through reviewing the projects, it is
possible to identify the projects that will not work and prune them. This helps in effective
strategic execution of projects that are worth investing in.
In order for a business to survive, competitive strategies must be put in place. A
competitive approach is a long term strategy that a company comes up with in order to have an
upper advantage against its competitors. This is achieved after examining and identifying the
strengths and weaknesses of its competitors and then comparing them to their own. For a
successful competitive strategy, different strategic actions are used to attain an advantage over
the market's competitive pressure, attracting the customers, and maintaining the position of the
company in the market.
Process of deciding a competitive approach
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To develop a competitive approach, first, the organization needs to understand why they
exist. The business purpose of any organization should be aimed at generating customers.
Secondly, the organization should understand core competencies in order to gain a competitive
advantage. The business must then understand its current position in the market today so as to
develop the strategies of future growth. By understanding the current position, the organization is
in a position to understand its strengths and weaknesses internally, and also it helps in identifying
available opportunities and threats. The other point to consider in the process is to define the
organization's primary method of growth, whether through acquisition or internal expansion.
Another point to be considered is knowing what goals for the future, which should include all the
activities which helps in the achievement of the company's company's vision (Fegh-hi
Farahmand, 2012) are.
The process of strategic approach in an organization provides the necessary strategies in
areas related to the marketing strategy, organization development strategy, financial strategies,
and the human resource, which the determinants of an organization's performance. The process
includes scanning the environment, formulating the strategies, strategy implementation, and
evaluation, and finally, control. In order for the business to succeed in the process, all parts of the
strategic thinking to develop the strategy should be involved.
Strategic thinking
Strategic thinking is a process that entails assessing the business and the areas in which
the organization is involved in understanding potential competitors, setting goals, and strategies.
Therefore, strategic thinking is an important aspect to maximize the companies productivity and
financial returns while maximizing the return on people. In order to have a competitive
advantage, strategic thinking on management, improvement in operational effectiveness, and
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developing unique activities is essential. The strategic planning aims at attaining an
organization's competitive advantage without affecting the needs of customers, the organization,
and also without compromising the needs of the staff in the process. The success of an
organization determined by its strategies on the utilization of resources, skills, and available
expertise. The essential strategic thinking criteria include the following:
Determining that the organization's skills and competencies, type of the organizational
structure, and resources are combined effectively to achieve the desired outcome. This
enables the organization to identify its weaknesses and strength hence creating an
effective competitive advantage and also helps in identifying its vulnerability. The
organization is able to sharpen their strategies by tracking the strengths and strategies of
their competitors.
Through strategic thinking, a company has a broadened view of things, thereby
improving their vision. The business is directionless without a vision, and without a
strategy, it is impossible to achieve the vision. Therefore it is important to develop
strategic thinking in solving problems and enhancing teamwork. Through strategic
thinking, a clear vision is developed, which helps the organization to develop and
integrate viewpoints such as market view, environmental view, and project view.
The effective measuring process to evaluate the plans and their effectiveness should be
designed. Incorporating all employees in the implementation of strategic plans developed
through a strategic process is important in achieving the organization's goals.
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c) How can my academic discipline as a function within the organization impact the process of
business strategy development and execution?
Research conducted indicates that most of the organizational leaders lack educational skills,
knowledge, and quality leadership skills for making the right decisions. For this reason, the
leaders most often ignore the decision-making process, which is essential in improving the
standards of the organization. Therefore with my academic discipline, I will be in a position to
make the appropriate decisions in growing the organization and achieving the set goals. Also, I
will apply my leadership skills in the organization for effective decision makings and develop
attainable goals geared towards achieving the organization’s strategies.
As a leader with my academic skills, it is my responsibility to craft the decisions in line with
the involvement of the stakeholders. In so doing, it would motivate the subordinates to perform
their duties effectively for the success of the organization. Also, the success of the business
depends on all the stakeholders within the institution. Therefore I will use my skills in involving
them at all levels of the decision-making process to ensure inclusivity. It is also within my
responsibilities to demonstrate leadership decision making qualities. This is the ability to choose
the best strategy in the decision-making process.
My academic discipline as a function of the organization is also important in understanding
the organizational decision-making process by defining the future expectations of the
organization. This is done by defining the vision of the organization and putting the strategies
needed in achieving the vision. As a leader, it is important to measure all the available options in
the decision-making process and what outcome is expected, understanding that the decision may
have either positive or negative impacts. Hence it is important to ensure the involvement of all
the stakeholders in developing the best decision making process and execution.
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My academic discipline is also an important aspect of decision making in an organization. It
is my responsibility as the leader in the organization to identify and solve critical situations while
portraying quality leadership decisions as a representative of the organization. Good decision
making is the major definition of effective leadership, which determines the strategies made in a
business. It is also the responsibility of the leader to guide his team in the accomplishment of the
objectives and the goals of the organization, ensuring cost efficiency and timeline. Therefore my
academic profession is an important function of the organization in decision making and
execution as a leader.
An academic discipline is an important function of an organization in business strategy
development and execution. This is because research is conducted in the institutions which
contribute to the growth businesses should the research be adopted. My discipline entails
conducting research in strategies that would contribute to the growth of an organization. My
discipline also impacts strategy development and execution processes by helping the
organization to determine strategy. This allows the organization to develop strategic goals and
make logical choices in order to keep pace with the alternating contemporary business
environment. Through strategic management, the organization not only enhances its market
share, but it also gains a competitive advantage. This discipline also impacts the process of
business strategy development and execution by assisting the organization to become proactive.
According to research conducted by Mordern (2016), results concluded that a proactive firm is
able to analyze competitor’s actions and implement steps that enhance competition. As a result,
strategic management proves to be the basis for all essential decisions for strategy development
and execution process.
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My academic discipline also impacts strategy development by conducting research to
identify good and bad strategy. Through such, the organization is in a position to avoid making
decisions that would contribute to losing as a result of bad strategy. Since strategic management
as my academic discipline involves laying out business goals, the advancement of strategic
vision, and creating and implementing strategies in an organization, it plays a key role in
impacting the process of business strategy development and execution. Strategic management
can impact strategy development and execution processes by necessitating a robust commitment
to the processes, which exemplify the ability of an organization to set long-and short-term goals.
Mordern (2016), supports this argument in his conclusion that strategic management positively
impacts business strategy development and execution by determining the crucial actions and
decisions required to meet the set strategic goals. This enables organizations to identify relevant
processes quite easily and allocate resources in order to archive the set goals, thus strengthening
and supporting the core competencies of the organization.
My academic discipline is also essential in helping the organization identify the goals of an
organization. With the skills gained in class, they can be translated and be integrated into the
actual business world and help determine the organization's goals. Determining the goals is
usually the initial step of the development of a business strategy (Mordern 2016). Also, the
academic skills will be used in developing the specific measures and actions to be put in place in
order to achieve the set goals. My academic skills are also important in gathering the necessary
information in order to ensure decisions are made on the basis of solid facts and data. This
follows a thorough situation analysis of an organization's internal information and external
information. Through academic skills, it is possible to identify the objectives of the organization
(DURMAZ & DÜŞÜN, 2019). This objective entails the measurable strategic elements which
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specify the desired outcomes of the strategic plan. My academic skills can be utilized in
providing detailed information, which will help the strategy team identify success achieved.
My academic discipline is also important in assisting business organizations in designing and
establishing a path that will lead to the growth of the organization as well as realize profits in the
competitive business environment and the changing environments (Calfee, 2016). My discipline
would assist in gathering, analyzing, and organizing relevant information for strategic planning.
As a strategic planner, it is possible to understand the organization's competitors, come up with
forecasting frameworks, and to analyze the scenario. It is through the skills gained in the
academic that makes it possible to examine the strategic performance, spot new market
opportunities, identify the threats to the business and come up with strategic plans in countering
the threats and finally come up with the best course of action.
Also, the academic discipline is applied in analyzing and evaluating the internal strategic
plans of the business. This involves the application of knowledge in financial forecasting,
conducting market analysis, and conduct analysis on competitive intelligence. As a strategy
profession, it is my role to formulate strategies that would lead to the development of an
organization, collaborate with the stakeholders, both internal and external, as well as contribute
to the development of cross-functional team members in the development of a business strategy.
My academic discipline is also important in developing the vision of the organization as the
key element of strategy development. The leader is responsible for crafting the vision of the
business, incorporating both the ideas of the stakeholders and the energies of all the employees.
The vision should be tied to the values of the organization, and it is my responsibility to make
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this connection in the simplest way that can be understood by the organization. With a good
vision, the organization is likely to grow and overcome challenges that may be met in the future.
It is also important to as a strategic leader to differentiate between vision, which indicates
where the organization is heading, and the mission of the organization, which describes the
reason for the existence of the business. With a good mission statement, the firm's purpose is
determined by its contribution. Therefore with my academic discipline, I will be able to
distinguish between the vision and the mission and ensure that the organization also understands
the differences in achieving its strategic goals (Calfee, 2016).
With my academic knowledge, I will be able to set the goals and objectives of the company
that would ensure the success of the organization in achieving its goals. These goals and
objectives are the keys to the realization of the vision of the company. The process of strategy
development should be focused on incorporating thoughtful decisions in order to make the vision
a reality. Therefore it is within my responsibility to ensure that the strategy development team
focuses on a single idea that guides through the process of effective decision making.
It is my responsibility also as a leader to set measurable goals and objectives for the
organization. Goals that cannot be attained are worthless to the organization, which may lead to
loss of resources if followed. As a leader in strategy development, it is my responsibility to set
measurable goals through the building of incentives that would contribute to the attainment of
the goals. The incentives enable an organization to meet its strategies by rewarding the goal of
attaining behavior. The organization moves towards achieving the set goals when a leader builds
incentives that would reward attainment of the set goals (Poisson‐de Haro & Turgut, 2012).
LITERATURE REVIEW 24
It is also my responsibility for my academic discipline to help the organization in crafting the
best strategies. This is done by identifying how the organization will put in place all the
resources in achieving the set goals of the organization. Crafting a strategic plan guides the
strategy team on what to do and what not to do. It is, therefore, the responsibility of the leader to
choose what is best for the organization (Allio, 2014). A leader understands that the strategy-
making process involves assembling all embedded revolutionaries in an organization and
involving the development of a strategic development process. As a leader, it is essential to
ensure that the revolutionaries in the strategy development process include the young, new
employees in the firm, and members of the geographic boundaries of the organization. This is
because these people have the best ideas that would help in the development of the organization.
Also, they are in a position to challenge assumptions made by senior managers. Also, they are in
a position to redefine the organization through challenging its accepted beliefs. Therefore as a
leader in my academic discipline, it is to have an open attitude towards the challenges in crafting
the strategies.
With my academic discipline, therefore, being in a position to define the company's strategic
plan. Through such efforts, the company focuses on deepening its strategic position and also
communicates these strategies to the stakeholders both externally and internally. My
responsibilities would be taking a strategic position which would deliver value and communicate
the values in crafting a good strategic plan
My discipline would also be applied in executing the chosen strategy. A leader is responsible for
implementing the chosen strategy by building an organization that would hold all the action
plans. This entails the application of the knowledge and skills in building an organizational
LITERATURE REVIEW 25
culture with capabilities of execution of the strategies. Good culture in the organization would
promote a cordial working environment for the employees hence improving their performance. It
is also upon the leadership of an organization to select the best team, chose the right role, then
allow the tea to make the best strategic moves. Beginning with the right team allows the
organization adapts to the constant changing world since the right individuals are adaptable, and
they are self-motivated. As a leader, it is important to identify and adapt the concepts which
provide a framework for the implementation of a good strategy. The concepts include; building a
good team, understanding the strategy is temporary; hence, it is important to adjust to the
changing environment.
My discipline would also play a great role in evaluating the performance of the strategic plan in
place. Through my academic skills, it is possible to understand that strategic development plans
should not be constant. There is a need to adjust to the changing environment continuously. Also,
with my academic skills as a leader, I understand that even the best strategy gets overtaken with
time, and there is the need to evaluate performance and make necessary adjustments constantly.
As a leader with the best insight, it is important to continue developing new strategies that would
lead to the growth of the business.
Conclusion
Literature review in academic writing tends to discover the recent knowledge in research in an
endeavor to establish an in-depth understanding of the study. The paper presents and discusses in
detail, reviews on how individual and group decision making processes aids in impended
decision making. The decision-making procedure involves making choices through the
identification of a decision, gathering of the necessary information, and also an assessment of
LITERATURE REVIEW 26
alternative solutions. Business strategy development is an important factor that determines the
success of the business through an effective business strategy. The strategy is said to be effective
when it works towards achieving the aex AERd organization's goals, which, when realized,
valuable products and services are created. Strategic planning is the process where leaders in an
organization determine the vision of the organization for the future identifying the organizational
objectives and goals. Research conducted indicates that most of the organizational leaders lack
educational skills, knowledge, and quality leadership skills for making the right decisions. It is
also my responsibility for my academic discipline to help the organization in crafting the best
strategies. This is done by identifying how the organization will put in place all the resources in
achieving the set goals of the organization.
LITERATURE REVIEW 27
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