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3 years ago

What are the 6 steps for decision making

1 answer:

4 0

The Six steps for Decision Making are:

1) Defining and Analyzing the problem - One must first admit that there is a problem before any decision can be made.

2) Develop alternative solutions - Once the problem is identified and analyzed, solutions can be developed.

3) Evaluate the alternative solutions - Each solution must be analyzed to see whether it is the best solution that can solve the problem in an efficient and effective manner.

4) Select the best solution
5) Implement the Decision - Putting the solution into action
6) Follow up or Feedback on the solution - After implementing the solution, one must wait for a certain time to make sure that the solution worked or not.

If a solution does not solve the problem, the decision making process must be done again until the desired result is achieved.

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The continuous review system is used to manage inventory associated with independent demand, while the periodic review system is

Assoli18 [71]

Answer:

FALSE

Explanation.

Periodic inventory is a practice of inventory count that takes stock every week or month while 'continuous inventory' constantly tracks inventory levels mostly through a computerized method so that stock levels. are always known.

It is not very correct that the continuous review system is used to manage inventory associated with independent demand, while the periodic review system is used to manage inventory associated with dependent demand because most often, it is the nature of inventory that determines the method to be used and not the type of demand

Continuous inventory keeps a constant track of quantities; and is more appropriate for small unit items that could be too numerous for physical count because they are bought in large quantities. e.g. supermarkets

Periodic inventory has to be done with big items that are not too numerous like automobiles, televisions, houses and sets of furniture.

8 0

4 years ago

Price is the only part of the marketing mix that does not generate costs./ true or false

Flura [38]

Answer: The answer is False.

Explanation: The marketing mix consists of the five “P”s, which are price, product, place, people and promotion. Price is the only portion of the marketing mix that generates revenue for the company, but it is not the only part that does not generate costs. That makes this statement false.

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3 years ago

trade-oriented sales promotions are directed at . multiple choice question. customers that are unhappy with your brand and are c

Rudiy27

Trade-oriented sales promotions are directed at B. wholesalers, retailers, or distributors.

<h3>What are Trade-oriented sales promotions ?</h3>

Trade-oriented sales promotion programs are aimed at the company's dealer network to compel them to promote the company's brand more than competing brands. It is sometimes referred to as a "push strategy," and it is aimed at the dealer network in order to encourage them to promote the brand to customers by giving it precedence over competing products.

In order to encourage volume sales, it may take the form of a product display, an additional case for every five cases ordered, cash discounts or straight cash payments, or it may be used to support a price reduction for customers. This is why it is directed at wholesalers, retailers, or distributors.

Find out more on trade - oriented promotions at brainly.com/question/14293289

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6 0

2 years ago

Let qa be the quantity demanded of good a, pa be the price of good a, pb be the price of good b, and m be income. let the demand

-BARSIC- [3]

Answer: Cross price elasticity is - 0.12

Explanation:

Cross price elasticity measures the responsiveness of quantity demanded of good a to a change in any of its related variable such as good b.

$Qa=86-5Pa-4Pb+2M$

Given,

Pa=6, Pb=3, and M=30,

$Qa = 86 - 5(6) - 4(3) + 2(30)$

$Qa = 86 - 30 - 12 + 60$

$Qa=104$

So, cross price elasticity is given by

$e_{pb} = \frac{Change in Qa}{Change in Pb} * \frac{Pb}{Qa}$

$e_{pb} = -4 * \frac{3}{104}$

$e_{pb} = -0.1153$

Since, cross price elasticity is negative it means that good a and good b are complements to each other.

4 0

4 years ago

what document explains your rights and responsibilities as a federal student loan borrower? your master promissory note your bil

rjkz [21]

The master promissory note is a document that explains your rights and responsibilities as a federal student loan borrower.

The first option is correct. This document is one that is legally binding. Before a student agrees that they would want to take out loans as students, they first have to know what their rights and responsibilities are as a borrower and also to the lending facility.

There are a lot of available options that are in place to help with the management of student loans.

6 0

3 years ago