ECONOMICS

Detailed explanation-1: -Strategic decisions are often complex and may result in major organisational change internal to the business or in the markets, or new markets they operate in. Strategic decisions may also involve a large financial commitment in order to carry out the decision.

Detailed explanation-2: -There are four organizational decision making models. These are known as (i) rational model, (ii) political model, (iii) garbage can model, and (iv) process or programme model.

Detailed explanation-3: -Tactical decisions are decisions and plans that concern the more detailed implementation of the directors’ general strategy, usually with a medium-term impact on a company. Tactical points requiring decisions include, but are not limited to: Size and structure of a work force. Sales and marketing strategy.