Business decision making past papers

  • What are examples of business decisions?

    20 Examples of Successful Business Decision Making

    Putting down roots. Moving into new markets. Being quick to market. Adopting transparent reporting processes. Sticking to what you know. Using private equity. Taking on a Partnership. Merging two companies..

  • What decisions does my business make?

    Operational business decisions can include a range of decisions like product inventory, customer orders or shipping needs, departmental organization, department budgets or sales and marketing initiatives..

  • What is the role of business decision-making?

    Making decisions — both large and small — is critical to the success of a business.
    Decisions come from the need to solve a problem or the need for a potential opportunity.
    Gathering the right amount of information and input from key stakeholders is essential for making informed decisions..

  • In a business context, it is a set of steps taken by managers in an enterprise to determine the planned path for business initiatives and to set specific actions in motion.
    Ideally, business decisions are based on an analysis of objective facts, aided by the use of business intelligence (BI) and analytics tools.

How do I introduce learners to a business decision-making model?

It is suggested that you introduce learners to an appropriate business decision-making model which can be used when approaching scenarios requiring a business decision.
In general, decision-making models will tend to identify the following stages:

  1. Select the preferred option
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How do you make business decisions?

Making business decisions involves evaluating risks.
Learners can do this by trying to predict events which may occur in the internal or external business environment and their impact on a business.

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What are the best decision-making tools for a business start-up?

These include:

  1. PESTLE analysis
  2. SWOT analysis
  3. Porter’s five forces model or the 5C model

Other decision-making tools/models could also be used.
The case study gave data on a business start-up for a coffee shop, a context most candidates should have found familiar.
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What is Unit 7 business decision making?

Unit 7:

  1. Business Decision Making This unit gives learners the opportunity to apply their knowledge and understanding of business concepts and processes
  2. gained in other units
  3. to formulate business decisions and solutions

Making business decisions will require learners to analyse, interpret and compare business data drawn from a range of sources.

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