Business decision-making is also called business-level strategy and suboptimal choice. There are many management decision-making theories. At present, there is no mature management system in China, which is basically adapted from the theories of Europe, America and Japan.
Usually, if the business decision is strategic, the decision-making conditions and capabilities of enterprises of different scales are very different. Small enterprises basically rely on the boss's experience or the feeling formed by the limited information captured to make decisions, while companies rely on more data to judge. As for which is more correct, there is no answer.
Enterprise management behavior is a practical behavior, not a scientific behavior. Therefore, in foreign theories, few people call it management theory, but practice or art. Just like morality, morality has never been a product of science and cannot be quantified. It is always in practice, and there is no universal standard.
However, in the course of hundreds of years of practice, some theoretical frameworks with empirical laws accumulated in the West can still be used for reference. China is a country with non-market system, and western management theory is basically based on market economy. We need to pay attention to this difference and apply these theories reasonably.
For enterprises with a high degree of marketization, more accurate research may be helpful to decision-making; Enterprises with low degree of marketization, such as industrial enterprises, may think more about policies or the relationship between enterprises.
The general answer to how to operate correctly is really not a question and answer. There are too many factors affecting decision-making, so it is impossible to list them all. That's a book. In the process of enterprise consultation, we need to know many factors such as enterprise resource capacity and market environment before we can give some suggestions.
Some people want to know the most important conditions, but there is no most important one. When an enterprise makes a decision, it is often not that the most important condition has gone wrong, but that the most important condition has changed and the enterprise can't take care of the problem. So now the enterprise is dynamic management, not static.