Strategic Decision-Making: Models and Methods in the Face of Complexity and Time Pressure

Abstract

The aim of this paper is to organise decision-making models and methods into one coherent matrix, using complexity (high to low) and time pressure (high to low) dimensions as relevant axes. Eight case vignettes are used to demonstrate the fit of four decision-making models and four decision making methods within high-low complexity and high-low time pressure. The arguments and the vignettes suggest that a particular decision-making model or method becomes an appropriate tool for strategic decision-makers under varying complexity and time pressure. The appropriate model or method would change when the characteristics of the environment change. Decision-making models and methods can be systematically assessed with the proposed framework.