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Katarina [22]
3 years ago
7

Put the steps of the decision-making process in the correct order.

Business
1 answer:
RideAnS [48]3 years ago
4 0

Identify the decision. The first step in making the right decision is recognizing the problem or opportunity and deciding to address it. Determine why this decision will make a difference to your customers or fellow employees.

Gather information. Next, it’s time to gather information so that you can make a decision based on facts and data. This requires making a value judgment, determining what information is relevant to the decision at hand, along with how you can get it. Ask yourself what you need to know in order to make the right decision, then actively seek out anyone who needs to be involved.

Identify alternatives. Once you have a clear understanding of the issue, it’s time to identify the various solutions at your disposal. It’s likely that you have many different options when it comes to making your decision, so it is important to come up with a range of options. This helps you determine which course of action is the best way to achieve your objective.

Weigh the evidence. In this step, you’ll need to “evaluate for feasibility, acceptability and desirability”

Choose among alternatives. When it’s time to make your decision, be sure that you understand the risks involved with your chosen route. You may also choose a combination of alternatives now that you fully grasp all relevant information and potential risks.

Take action. Next, you’ll need to create a plan for implementation. This involves identifying what resources are required and gaining support from employees and stakeholders. Getting others onboard with your decision is a key component of executing your plan effectively, so be prepared to address any questions or concerns that may arise.

Review your decision. An often-overlooked but important step in the decision making process is evaluating your decision for effectiveness. Ask yourself what you did well and what can be improved next time.


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Highway 55 Studios has budgeted the following amounts for its next fiscal​ year: Total fixed expenses $ 1 comma 980 comma 000 Se
faust18 [17]

Answer:

Contribution per unit = Selling price - Unit variable cost

                                     = $70 - $10 = $60

Break-even sales in units = <u>Fixed cost</u>

                                             Contribution per unit

                                         = <u>$1,980,000</u>

                                                   $60

                                        = 33,000 units

If fixed cost reduced by $49,500, new fixed cost will be $1.930,500

33,000     = <u>$1,930,500</u>

                      $70 - VC

33,000(70 - VC) = $1,930,500

2,310,000 - 33,000VC  = $1,930,500

2,310,000 - $1,930,500 = 33,000VC                                          

379,500  = 33,000VC

<u>379,500</u>  = VC

33,000

VC = $11.50

Increase in variable expenses per unit

= $11.50 - $10 = $1.50

Explanation:

In this case, we need to determine the break-even point in units, which is fixed cost divided by variable expenses per unit. If total fixed expenses reduced by $49,500, the new total fixed expenses will be $1,930,500. Then, we will equate the break-even point in units to the new fixed cost divided by contribution per unit, which is selling price minus variable expenses per unit. Since break-even point in units, new fixed cost and selling price were known with the exception of variable cost, variable cost becomes the subject of the formula. The old variable expenses will be deducted from the new variable expenses so as to obtain increase in variable expenses per unit.

7 0
4 years ago
A product mix is the combination of ___________ offered by a manufacturer. product lines loss leaders unsought goods and service
ki77a [65]

Answer:

The answer is A. product lines.

Explanation:

The combination of all product lines offered by a manufacturer is called a product mix.

A product line is a group of products that a company manufactures under a single brand. The products in product line are similar or are for a similar market.

A successful product mix involves analyzing existing products for market growth and market share

7 0
4 years ago
Read 2 more answers
Modesto broker Killian Johnson has just received a money deposit and the related instructions from the buyer, Luis Alverez. Whic
Angelina_Jolie [31]

Answer:

B) Deposit into Killian’s account, then figure out his commission, deduct that number to arrive at the final amount (due to the principal) and then write a check to the principal for the monies due to him, within 3 business days.

Explanation:

Killian can deposit the money in the principal's account, in an escrow account or even deposit it in the broker's trust fund, whatever suits his mind or has been previously agreed with the seller, but he cannot keep the money for himself. Killian can only collect his commission once the sale has been completed.

There is no such thing as commissions in advance, since there is always the possibility that the deal is not completed, e.g. the house might burn down, the banking system may completely collapse, the buyer or seller might die, etc. Even though the possibility of extreme events occurring may be very low, it still exists.

5 0
3 years ago
1. ) Which task is common to both restaurant and lodging workers, but not to recreation workers? PLEASE HELP ME ON MY FINAL ANYT
bija089 [108]
Totally d because if you read it 
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4 years ago
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Blizzard [7]

Answer:

Employee Exchange Strategy

Explanation:

According to my research on different business strategies used by companies, I can say that based on the information provided within the question this is an example of the Employee Exchange Strategy. This strategy is when employees are exchanged between companies or departments, usually during seasonal ups and downs. This is done to either avoid contractual conflicts or to avoid layoffs during off seasons.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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