Strategic Decision Making is a complex process with a lot riding on those decisions. Eliminating risk from Decision Making is unthinkable but radically enhancing chances of success is a realistic goal.
Having access to a variety of Decision Support Tools increases the likelihood of making a successful decision provided the decision maker has knowledge of which tool to employ or a combination thereof in various scenarios.
This presentation discusses 5 core Decision Support Tools usually used in Strategic Decision Making process:
1. Conventional Capital Budgeting Tools
2. Quantitative Multiple Scenario Tools
3. Qualitative Scenario Analysis
4. Case-based Decision Analysis
5. Information Aggregation Tools
In making strategic decisions, the issue is not lack of Decision Making Tools. Rather, it
This presentation delves into the intricacies of selecting the right Decision Support Tools by addressing two fundamental questions: Do I know what it will take to succeed, and can I predict the range of possible outcomes? By answering these questions, decision-makers can better align their tools with the specific needs of their strategic decisions. This alignment is crucial for ensuring that the chosen tools provide the most relevant and actionable insights.
The PPT also emphasizes the importance of understanding the causal model's robustness and existence. It provides a detailed analysis of various scenarios, using McDonald's as a business case, to illustrate how different tools can be employed effectively. The scenarios range from situations where the causal model is well-understood and outcomes can be predicted with reasonable certainty, to more complex scenarios where outcomes are uncertain and require a combination of qualitative and case-based tools.
Additionally, the presentation includes slide templates that can be used in your own business presentations. These templates are designed to help you effectively communicate your decision-making process and the rationale behind the chosen tools. By leveraging these templates, you can ensure that your presentations are not only informative, but also visually engaging and easy to understand.
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Source: Best Practices in Decision Making PowerPoint Slides: Decision Support Tools PowerPoint (PPTX) Presentation Slide Deck, LearnPPT Consulting
This PPT slide presents a case-based decision-making framework, focusing on a scenario involving McDonald's and its response to the obesity epidemic. It highlights the complexities faced by the fast-food industry in navigating public perception, legal challenges, and evolving consumer expectations. The text emphasizes that traditional decision-making models may not suffice under such unpredictable conditions, where historical data can become irrelevant.
The slide outlines the necessity of employing case-based decision analysis as a strategic tool. It suggests that McDonald's should examine relevant reference cases from other consumer goods sectors that have dealt with similar challenges. This includes studying how companies in industries like tobacco, carbonated beverages, and gaming have repositioned themselves in response to public health concerns and regulatory pressures. The recommendation is to analyze these cases to derive insights that could inform McDonald's strategy.
The slide also notes that predicting outcomes in this scenario is nearly impossible due to the fluid nature of the situation. It stresses the importance of understanding stakeholder perceptions and the potential impact of public relations efforts. By scrutinizing analogous experiences, McDonald's can better navigate its own challenges and make informed decisions.
This content is particularly relevant for executives considering how to adapt their strategies in uncertain environments. It underscores the value of learning from the experiences of others while recognizing the limitations of conventional forecasting methods. The approach encourages a proactive stance in addressing potential risks and leveraging insights from various sectors to inform decision-making.
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