preview

D1 Unit 4

Satisfactory Essays

D1 - Unit 4 – Evaluating the appropriateness of business information used to make strategic decisions. Long term decisions are very useful as they help the business to manage the money they possess efficiently and also give them a sense of direction and where they aspire to be in the long term which could be financially. Secondly when there are long term goals and targets set by the business the workers then have that sense of responsibility which is to produce the best possible work they could offer to achieve those long term goals and targets. If the business is doing well and exceeding their plans, then they could then set themselves new targets and long term goals. Strategic decisions are not only used by businesses to exceed goals …show more content…

This includes prices of products that are corresponding with investments I believe a business should consider costing because by having reasonable product prices they could win over customers from their competitors. However, I also believe costing can make the difference between excellent idea and ruinous one. Costing can be vital to a company because it can allow them to estimate the costs of many things such as products, good and even services. As a result of estimating what the prices of the business could be then save more money. I recommend that a business should use all three of these factors which are costing, research, and competitors because they are all linked to having a successful business. by being able to operate with these factors the business is certainly going to be successful. I Believe that this is right because firstly, Researching about the market you will advertise and promote you’re in you will have a clear understanding about what your target audience like and what they are not interested in. If the customers are do not prefer your products or services then you could carry out a survey and find out what is wrong with your products and try to improve the quality of the product. Secondly, knowing your competitors is vital to be a business, because there could be a new business

Get Access