Strategic decision making process : from an idea to project initiation
Kalin, Johanna; Kalin, Johanna (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202401302222
https://urn.fi/URN:NBN:fi:amk-202401302222
Tiivistelmä
Strategic decision making is an overreaching topic within the framework of strategic management. It lays its impact, reaching the entire organisation and impacting the market through the existing and upcoming market participants. This thesis aimed to research the current decision making process that an idea or a business requirement must go through before reaching the project initiation phase and how the existing decision making process supports the commissioner’s strategy. Its purpose was to examine similarities, find consensus between applied approach (es) and theory, and construct a process model to conceptualise this. Semi-structured one-on-one expert interviews were conducted alongside internal document analysis. The theoretical framework of the thesis supported the collected primary data and complemented each other to create a new process model with recommended adjustments to the existing process.
As was assumed based on previous research, participants perceived the current strategic decision making process as time-consuming and guided by risk-averse tendencies. Additionally, the industry imposes large-scale regulatory requirements, which were seen to limit the decision making process further. However, the strategic framework and its main actions had successfully laid a decision making blueprint that was perceived as solid and well-functioning. The participants were open to new adjustments addressing these identified pain points.
The recommendation was constructed on three levels, cultivating impact by complementing each other. The main recommendation suggested including a technology-driven decision matrix to control risk-averse decision making and ensure optimised strategic alignment. Alongside the matrix, the new process model aimed to promote multi-level communication and increase process transparency. Thirdly, the recommendation enhanced the process sequence into a circular model to improve continuity further and optimise adjustments based on iterative monitoring.
As was assumed based on previous research, participants perceived the current strategic decision making process as time-consuming and guided by risk-averse tendencies. Additionally, the industry imposes large-scale regulatory requirements, which were seen to limit the decision making process further. However, the strategic framework and its main actions had successfully laid a decision making blueprint that was perceived as solid and well-functioning. The participants were open to new adjustments addressing these identified pain points.
The recommendation was constructed on three levels, cultivating impact by complementing each other. The main recommendation suggested including a technology-driven decision matrix to control risk-averse decision making and ensure optimised strategic alignment. Alongside the matrix, the new process model aimed to promote multi-level communication and increase process transparency. Thirdly, the recommendation enhanced the process sequence into a circular model to improve continuity further and optimise adjustments based on iterative monitoring.