THE INFLUENCE OF STRATEGIC DECISION-MAKING ON BUSINESS OUTCOMES
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- NGN 5000
Abstract:
This study aims to (1) evaluate the impact of strategic decision-making on business outcomes, (2) identify the factors influencing strategic decision-making, and (3) assess the relationship between decision-making processes and business performance. A survey research design was chosen for its ability to gather comprehensive data from a large sample. Using Taro Yamane's formula, a sample size of 370 respondents was selected to ensure representativeness. The study was conducted among financial institutions in Lagos, Nigeria, known for their strategic decision-making practices. The reliability coefficient score of the survey was 0.91. The findings indicate that effective strategic decision-making leads to improved business outcomes by enhancing organizational agility, promoting innovation, and ensuring alignment with business goals. Recommendations include fostering a culture of strategic thinking, providing decision-making training, and using data-driven approaches to support strategic decisions.
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