Abstract
Managerial decision making is important in an enterprise and in leadership. Strategic objectives are, in general, objectives that an enterprise have to achieve to make its long-range plan that means a strategy succeed, especially in globalized environment. Each enterprise currently face the globalization that is why these enterprise have to know what can be done to achieve enterprise objectives more effectively within the future. The aim of the paper is to identify factors which can have an impact on decision making in the area of strategic objectives. Analysis shows the influence of selected variables such as financial performance, passion for work, managerial skills and communicated strategy on strategic objectives setting to be more open and dynamic or international. The paper is based on primary data collection from a recent survey of enterprises from the Czech Republic and on comparison with international resources focused on decision on strategic objectives. The primary research provides the support for relationships importance between selected variables for the managerial decision on strategic objectives. The secondary research introduces what specifically affects those variables. Moreover, the paper highlights that with managerial skills, a manager will assist the enterprise in achieving its objectives and business performance.
Highlights
IntroductionExamples include increased global competition, the impact of information technology, the re-engineering of business processes, smaller companies that employ fewer people, the shift from making a product to providing a service
Dramatic changes are affecting the global development
This research admits that studies that regard conceptual skills and financial performance as factors that nurture business development are rare factors involved in surveys
Summary
Examples include increased global competition, the impact of information technology, the re-engineering of business processes, smaller companies that employ fewer people, the shift from making a product to providing a service. These trends are producing a redefinition of decision making itself. This article identifies key areas in which to start in order to increase performance appraisal and organizational development. Relevant research in these areas can provide substantial payoffs for businesses and researchers
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