In strategic management, which option is least likely to lead to effective decision-making?

Making assumptions based on limited data is least likely to lead to effective decision-making because it can result in misguided strategies and decisions that do not accurately reflect the realities of the market or the competitive landscape. Effective decision-making relies on comprehensive information that captures various aspects of the business environment. When decisions are based on insufficient data, they can overlook critical factors and lead to suboptimal outcomes.

In contrast, conducting thorough market analysis, gathering diverse stakeholder input, and reviewing competitive performances involve comprehensive evaluations and insights that provide a richer understanding of the business context. These practices enable decision-makers to make informed choices that are more likely to enhance competitiveness and align with organizational goals. Using limited data diminishes the likelihood of identifying viable opportunities or threats, making well-informed and effective decision-making nearly impossible.