Role of Strategic Analysis in Strategic Decision-Making

Abstract

The crucial role in strategic decision-making process has strategic analysis. It often brings the important information about evaluation and development of environment inside and outside the company and reveals possible opportunities and threats that need to be consider in strategic decision-making. In this paper we will discuss strategic decision-making process and possibilities how companies can improve their approaches in this process. We examined companies operating in Slovak Republic and evaluated their approaches to strategic decision-making, especially from view of application of strategic analysis and strategy formulation. Article presents the level of the application of strategic analysis and brings insights to current state of usage of analytical tools used in strategic management.