decision making in business

Question 1

describe strategic decision

Answer 1

senior management with long term effect and sets the aims of the business

Question 2

describe tactical decision

Answer 2

medium management with medium term effect and sets out the objectives of the business

Question 3

describe operational decision

Answer 3

junior management with short time effect

Question 4

list aims and objectives managers must make decisions about?

Answer 4

what to produce
where to locate premise
what method of production ti use
how many people to employ
what price a product should be

Question 5

what does POCGADSCIE stand for?

Answer 5

Problem (identify the problems and how they could be tackled)
Objectives (consider the objectives that must meet the aims)
Constraints (whats holding you back)
Gather (gather all relevant info internal and external)
Analysis (analysis the info and see what the physical/financial/human constraints)
Devise (devise multiply solutions within the business can use to succeed to for filling they’re objectives)
Select ()
Communicate ()
Implement ()
Evaluate (appraise the effectiveness of the solution and undertake remedial action if required)

Question 6

what is a mnemonic for POCGADSCIE?

Answer 6

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