Introduction to Commodities Investing
Ever since the beginning of history, humans have been using commodities. This has created a necessity to trade commodities. However, as financial markets advances, trading commodities became a business unto itself. The modern world provides a plethora of options when it comes to commodities investing. Commercial users of the products can use these financial markets […]
How to Choose Electives and Optional Courses in Line With Building Ones Profile
Strategic Choice of Electives and Optional Courses Often, students in business schools wonder about the kind of electives and optional courses that they must take. For instance, it is a no-brainer when electives for majoring a particular specialization are concerned. If one wants to specialize in Marketing or Finance, then one must take the electives […]
Bond Indentures and Covenants
When an investor thinks of bonds, they often think about the financial agreement between the investors and the borrowers. However, besides being financial instruments, bonds are also legal in nature. Each and every fixed-income security which is in existence has a contract that defines the rights and obligations which various parties have under different circumstances. […]
Reinsurance Policy Coverage
When an individual or a company takes an insurance policy, the risk that they are indemnifying themselves against is very clear. For instance, if a person takes insurance on their car, then both parties know exactly what the insurable interest is i.e. the car. However, this is not the case with reinsurance policies. This is […]
Ways to Reduce Politics at the Workplace
Employees indulge in politics to win appreciation from the superiors and tarnish the reputation of the fellow workers. Individuals who do not believe in working hard depend on nasty politics at the workplace simply to save their own job. Changing jobs frequently is no solution to politics. One must try to avoid politics for a […]
Strategic decisions are the decisions that are concerned with whole environment in which the firm operates, the entire resources and the people who form the company and the interface between the two.
Administrative decisions are routine decisions which help or rather facilitate strategic decisions or operational decisions.
Operational decisions are technical decisions which help execution of strategic decisions.
To reduce cost is a strategic decision which is achieved through operational decision of reducing the number of employees and how we carry out these reductions will be administrative decision.
The differences between Strategic, Administrative and Operational decisions can be summarized as follows-
| Strategic Decisions | Administrative Decisions | Operational Decisions |
| Strategic decisions are long-term decisions. | Administrative decisions are taken daily. | Operational decisions are not frequently taken. |
| These are considered where The future planning is concerned. | These are short-term based Decisions. | These are medium-period based decisions. |
| Strategic decisions are taken in Accordance with organizational mission and vision. | These are taken according to strategic and operational Decisions. | These are taken in accordance with strategic and administrative decision. |
| These are related to overall Counter planning of all Organization. | These are related to working of employees in an Organization. | These are related to production. |
| These deal with organizational Growth. | These are in welfare of employees working in an organization. | These are related to production and factory growth. |
Your email address will not be published. Required fields are marked *
