Generative Artificial Intelligence (Generative AI) has emerged as one of the most transformative technologies influencing modern business environments. Unlike traditional analytical systems, Generative AI can create content, generate strategic recommendations, simulate business scenarios, and assist executives in complex decision-making processes. Organizations increasingly utilize Generative AI for strategic planning, market intelligence, forecasting, innovation management, customer engagement, and operational optimization. This study examines the role of Generative AI in strategic business decision-making, evaluates its applications across industries, and explores the associated opportunities and challenges. A narrative review methodology was employed to analyze existing literature, industry reports, and emerging business practices. Findings indicate that Generative AI enhances decision quality, accelerates strategic analysis, improves forecasting accuracy, and supports organizational agility. However, concerns regarding data privacy, model bias, transparency, governance, and overreliance on AI-generated recommendations remain significant. The study concludes that Generative AI should function as a strategic augmentation tool rather than a replacement for human judgment, enabling organizations to achieve more informed and adaptive decision-making processes.