Final answer:
The strategic-management process is a systematic, logical approach used for significant decision-making in organizations and involves factors like profit objectives, cost benefit analyses, and the evaluation of potential policies or actions.
Step-by-step explanation:
An objective, logical, systematic approach for making major decisions in an organization can indeed be described as the strategic-management process. This process typically involves developing multiple concepts or alternatives, analyzing their pros and cons, evaluating them against predetermined constraints and criteria, and choosing the one that is deemed the most beneficial for implementation. The approach considers factors such as the cost to produce goods versus the price received for selling them (profit-making objective), the state policies that require a careful consideration of the risks and rewards (strategic decision-making), and the use of tools such as Cost Benefit Analysis to weigh the marginal costs against the marginal benefits. Ultimately, it's about making informed decisions that align with the organization's goals and objectives while maximizing its benefits.
For example, when state actors make foreign policy decisions, they base their strategic management on available intelligence information. They strive to calculate the outcomes of various actions to inform their strategic decisions, seeking to maximize benefits or to fulfill the state’s objectives. Similarly, businesses might conduct a Cost Benefit Analysis to help with their strategic planning, comparing what will be sacrificed and what will be gained to make the best possible decision. The structured decision process ensures that the selected concept meets all requirements and offers the greatest net benefit.