ABSTRACT
Decision-making can be either centralized, de-centralized or collaborative, and once made, is followed by an action plan. The teams are usually well briefed on the overall objectives of the operation and regardless of the absence or availability of the command-and-control chains, they are expected to take decisions that help in traversing in the direction of those objectives. The same is true in volatile business contexts, like stock-trading desks or during customer negotiations where similar fundamentals of decision-making are expected. The strategic business plan describes actions vis-a-vis own objectives and is representable on the action axis. The business and market cycle are the general market conditions within which a business operates and oscillates over time and is represented on the time axis. The product and services lifecycle are largely affected by innovation in the market and a product can quickly go out of fashion due to competitive response – hence, it is represented on the space axis.
