STRATEGIC DECISION-MAKING IN DYNAMIC BUSINESS ENVIRONMENTS

Abstract

In today's fast-paced and ever-evolving business landscape, strategic decision-making has become a critical competency for organizational success and sustainability. This review paper examines the fundamental principles, frameworks, and methodologies employed in strategic decision-making within dynamic business environments. It explores the influence of external and internal factors, such as market volatility, technological advancements, competitive pressures, and organizational capabilities, on strategic choices. The paper also delves into the role of data analytics, artificial intelligence, and other emerging technologies in enhancing decision-making processes. By synthesizing current literature, this review identifies key challenges and opportunities faced by organizations and provides insights into best practices for navigating complex and uncertain business contexts. The findings underscore the importance of agility, innovation, and strategic foresight in achieving long-term organizational objectives.