Importance of Business Decision Making - Helpful in Planning and Policies

Helpful in Planning and Policies 

Any policy or plan is established through decision making. Without decision making, no plans and policies are performed. In the process of making plans, appropriate decisions must be made from so many alternatives. Therefore decision making is an important process which is helpful in planning.

With a strategic planning process, any organisation will be able to know:

• what it wants to achieve in the long-term – Vision

• which principles guide its work – Values

• how it wants to bring about change, what is it doing – Mission

• what specifically the organisation wants to see changed based on the identified problems – Overall goal

• what the organisation wants to achieve in short to mid-term – Immediate objective

• which results the organisation aims to reach – Key results areas

http://www.unoy.org/evaluationguide/learning/for-organisations/2-planning-and-decision-making/