Providing a strategic decision-making pattern in a fast-paced environment

Decision making in organizations particularly in the fast-paced environments is posing a difficult challenge, which in the absence of a suitable algorithm would confront the establishments with an array of perils. The aim’s paper is to developing a strategic decision making algorithm for banking sector managers facing fast-paced environments.
  The research method is qulatative one. The subjective multi-case methodology applied to fifteen participants selected through theoretical sampling from the population of managers and experts. The sampe include three different banks.  Data gather by subjected to semi structured interviewing.
  To forming, a model of the strategic decision-making, three inclusive fields of context, method and consequences is necessary. The results of the present study showed that in order for banks to be able to make strategic decisions in high-speed environments, they must consider three main areas: decision contexts, the process required to make a decision, and the consequences of the decision. Organizations, especially banks, need special conditions such as dynamic components of the organization, balance between stability and flexibility, coordination of organizational components, and the like, which were identified in the present study. The present study also showed that decision-making agility and decision-making reliance on information and analysis is one of the background conditions required to succeed in developing and implementing a strategic decision-making model for banking industry managers in high-speed environmental conditions. The study was consistent with the results of the research of Nimand et al. (2021) and confirmed the findings of the study. Among other areas related to the creation of strategic decision-making model in high-speed environments by banks, the present study emphasized the issue of decision-making process. The structure of strategic decision-making was one of the factors that had a great impact on creating a strategic decision-making model in high-speed environments. In other words, the agility of the structure along with the support of senior management, the competence of decision-makers, as well as continuous evaluation of changes and measures such as communication development, growth and development of services and its diversity scope leads to this. The organization will be able to innovate in its strategic decision-making processes in high-speed environments, and this will eventually lead to the creation of a new and good model for strategic decision-making in high-speed environments. This part of the study was in line with the findings of the study conducted by Kamal (2021) and confirmed the findings of this study. Another area that was examined and identified in the present study regarding the strategic decision-making model in high-speed environmental conditions, which was also the last comprehensive theme of the present study, was the outcome. The most important things that can be mentioned in this area are: effective and dynamic strategic management system, decision-making integrity, structured decision-making process and the like. Among the issues that can be considered by adopting a strategic decision-making approach in the banking industry and in high-speed environmental conditions are issues such as helping to increase elite selection and retention and cultivation of elites, spreading the culture of strategic thinking in the organization and especially the banking industry mentioned the creation of a common vision in the organization and collective values and the like. It should be noted that this part of the results of the present study was also consistent with the findings of the research of Bamgartner et al. (2021), because the findings of the present study in this section showed that the banking industry can in high-speed environmental conditions. To take action in such a way that the results of these actions will ultimately lead to the success of the organization, requires a strong strategic decision-making framework, and this system must be established throughout the organization as soon as possible.
  An organization to have a strategic decision-making model, managers must simultaneously pay attention to the context, process and outcome. Regarding the background conditions, the most important issues are the support of senior management, the competence of decision-makers, the structure of the decision-making process, and the existence of a common vision in the organization, mastering the vision of the organization and applying the dimensions of human resource management. Organizations should identify all the requirements and provide the conditions in such a way that they are in the most dynamic state possible. Regarding strategic decision-making processes, it can be said that managers in the banking industry should take action such as forward-looking action, continuous learning, maintaining and developing communications, strategic alliances, continuous evaluation of changes, adopting alternative strategies, developing discourse rules, strategic foresight and Put structure agility on their agenda and know that organizational results depend on these. Finally, the most important things that the managers of the banking industry should consider in their agenda regarding the consequences of strategic decision-making in high-speed environmental conditions are: using the results of strategic decision-making to improve the organization and trying to develop strategic decision-making. Advancing the core goals that all of these materials will ultimately lead to improved organizational performance.