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This question is about employer.
What is an executive decision?
An executive decision refers to a decision that is made by a high-ranking official within an organization or a company. This usually applies to something of great consequence and is often a response to a considerable issue, problem, or challenge the organization is currently facing.
Executive decisions are often utilized in business scenarios where a high amount of risk or uncertainty is present. When there is a need for decisive and quick action, an executive makes an executive decision to fully address the issue, problem, or challenge, and mitigate any potential negative impacts for the company.
Executive decisions might be made by a single executive, such as a:
- Chief Executive Officer (CEO)
- Chief Financial Officer (CFO)
- Chief Operations Officer (COO)
- Chief Technology Officer (CTO)
However, they might also be made by a group of executives called an executive committee. This is a specific group of high-level executives at an organization that is tasked with making key decisions that affect the organization's overall success or failure. Decisions that might be made in the executive decision category commonly pertain to items like:
- Human resources
- Financial management
- Marketing and sales
- Operations and supply chain management
- Mergers and acquisitions
When making an executive decision, the executive, or executive committee, will consider a wide range of factors before taking action. Some common factors they might consider include:
- The company's objectives and goals
- The possible risks and benefits of each option of the executive decision
- The overall impact the executive decision will have on the organization's stakeholders
Executive decisions are critical choice junctures for a company and the final decision that is made typically can have a relatively profound impact on the success or failure of a company in a certain way, or even in broad terms.
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