1.1 Flashcards
1
Q
Name three types of business decisions
A
Strategic
Tactical
Operational
2
Q
What is strategic decision making
A
Long term decisions taken by senior management that affect the long term direction of a business
Eg relocation, changing business name
3
Q
What are tactical decisions
A
Medium term decisions taken by middle managers and they are designed to fit in with some strategic decisions
Eg when to launch a brand new product
4
Q
What are operational decisions
A
Short term decisions that don’t usually have a Big impact on the business they can be usual day to day tasks taken by less senior staff
Eg- staff rota
