Locate an example where a business made a bad decision because they lacked good information. Discuss how good business research would have led to a better decision by the organization.
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Locate an example where a business made a bad decision because they lacked good information. Discuss how good business research would have led to a better decision by the organization.
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- Identify an industry that is undergoing intense competition or is being featured in the busines press. Discuss how scenario planning might be used by competitors to prepare for future events. Can some industries benefit more than others from this type of process? Explain why? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Kindly choose the correct answer: 1. It is often reflected in an organization’s mission and vision statement * a. Business Attributes b. Business Plan c. Business Feature d. Business Driver 2. It is associated to the organization’s strategies, operational plans, and key elements considered critical to success * a. Business Plan b. Business Feature c. Business Driver d. Business Attributes 3. It is a key property of the strategic objectives that needs to be enabled or protected by the enterprise security program* a. Business Plan b. Business Feature c. Business Driver d. Business AttributesFrom the statment below respond why she made the right decision at the time? I remember when Covid first started making its way around the United States. We had a protocol in place at work that if any of our co workers or clients ( or anyone in the household) tested positive that the people involved would have to quarantine then test negative to come back to the clinic. Also the owners would send out an email letting us know that someone tested positive so that if we had contact with that person but were not told prier, that we would be able to follow the above stated steps. The owner of our clinic was not informing us of anything and we were finding out about positive cases in our office just by talking with one another. I was going to meet with my boss solo and have a conversation stating that i was uncomfortable with the situation she has put me in. However i found that there were many others that were going to approach her as a group in a meeting requested by the staff. Since the…
- Strategic planning is a key component in the success of any venture, as it involves the systematic organization of resources and actions to achieve specific objectives. This process is not limited to business; it extends to various aspects of life, including education, personal development, and even leisure activities. Planning provides a framework for decision-making, helping individuals and organizations navigate through uncertainties. It also allows for the identification of potential risks and the development of contingency plans to mitigate those risks. The act of planning is not a one-time event but rather an ongoing process that requires periodic reviews and adjustments to align with changing circumstances and goals. Question: How can individuals ensure that their long-term plans remain relevant and adaptable in the face of evolving circumstances and changing priorities?Direction: Read and understand each question. Write True if the statement is correct, while False if the statement is incorrect. __________1. When sales exceed the cost to produce goods its result is called forecasting. __________2. Forecasting is a planning tool that helps the entrepreneur cope with uncertainties in his future operation. __________3. Costs incurred through payment of utilities such as water and electricity are called operating expenses. __________4. Mang Selo is a fruit vendor. Selling fruits is an example of a service concern business. __________5. Loss is a result when cost to produce goods is greater than the sales.Which among the following is one of the advantages of the McKinsey 7S model 1-It is considered a long-term model 2-With the changing nature of businesses, it remains to be seen how the model will adapt. 3-It seems to rely on internal factors and processes and may be disadvantageous in situations where external circumstances influence an organization. 4-It is considered a longstanding theory, with numerous organizations adopting the model over time.
- An automobile company wants to invest in Pakistan, its top management decided to get the users to feedback about existing cars available in the market. So, they can make plans to invest and facilitate the user's demands. You are the senior manager, responsible for this task. How will you get the data from users? If you circulate the form online, which type of questions would you select (Open or Closed)? Justify this answer with a proper example. If you have another option, please give the details with an example.Compose a position paper on how your local government unit respondsto the COVID-19 crisis and what is your advocacy on your chosen issue.You need to be as objective as possible by citing valid and reliablesources. You also need to make the necessary adjustments to yoursources’ authenticity and reliability based on the comments andsuggestions of the professor.Which of the following statements is TRUE? A. In a market economy, decisions are based on the forces of supply and demand B. In a command economy, decisions are based on the forces of supply and demand C. In a command economy, decisions are based on customs D. In a market economy, decisions are based on central government
- With reference to Eskom, explain how a cost-benefit analysis can be used as a decision-making tool. Use an appropriate example to support your answer.understanding usefulness of “data-driven decision making”. Now consider this from a “business partner” perspective. How could data and metrics help strengthen relationships with their business partners? In other words, what value would this add to the business?Planning plays a crucial role in both short-term and long-term decision-making, fostering a sense of direction and purpose. It provides the opportunity to allocate resources judiciously, minimizing waste and maximizing productivity. A carefully crafted plan also enhances communication and coordination among team members, ensuring everyone is aligned with common objectives. Moreover, planning encourages a proactive mindset, enabling individuals to anticipate challenges and devise strategies to overcome them. It serves as a proactive tool for risk management, allowing for the identification of potential pitfalls and the development of contingency plans. In essence, planning is not just about achieving goals; it's about fostering a disciplined and strategic approach to problem-solving and decision- making. Question: How do you strike a balance between detailed planning and the need for flexibility in a rapidly changing environment?