Strategic Decision Making

With a focus on qualitative methods this subject aims to familiarize students with the basic concepts and methods of strategic decision making in various types of companies and in different circumstances and environments of modern business. This subject has an interdisciplinary character, which implies an open and flexible approach to the process of studying and mastering its complexities.

Upon successful completion of this subject students will be able to use basic methods and approaches in strategic decision-making and master the complexity of the process of making business and other decisions. Acquired knowledge and skills should enable them to successfully manage the various situations while performing direct jobs.

Theory classes include a multidisciplinary approach, which mainly has a qualitative character, in mastering basic theoretical settings in decision making which includes internal variables relating to the manager (human characteristics) and external variables relating to the environment in which a particular company - the organization, operates or exists. Key topics and concepts: The nature and importance of the decision and decision making; Strategic decision making, different levels; Mintzberg's general model of strategic decision making process; Qualitative approach to decision making process; Quantitative approach to decision making process; Classical approach to decision making process; The Cynefin Framework; The Donaldson-Lorsch Model of contrast in the decision-making process.

Familiarizing students with concrete examples from practice in the organization, operation and management on site in companies and other organized entities, which includes oral presentation, conversation and discussion, test methods and methods of exercise. Teaching modalities incorporate: a case study, project tasks, reports from the roundtables, essay questions, written exercises, homework assignments, texts, mentoring work and video presentations.

Colloquium I (0-20 points); Colloquium II (0-20 points); Final exam (0-50 points); Attendance (2point); Class activities (seminar papers, discussions, case studies) (0-8 points)

Harrison E. F. (2005). The Managerial Decision-making Process. Fifth edition. New York: Houghton Mifflin Company; Johnson, G.; Scholes, K.; Whittington, R. (2005). Exploring Corporate Strategy. Text and Cases. 7th edition. UK: Pearson Education Limited; Ateljević, J.; Kulović, Dz. (2013). Strategic Management: a new perspective. Belgrade: Data Status.