1.5.5 Business Choices Flashcards
1
Q
What is the definition of ‘business choice’?
A
A business choice refers to the decision-making process that involves selecting among various alternatives to achieve a desired outcome in a business context.
2
Q
True or False: A business choice can impact the long-term sustainability of a company.
A
True
3
Q
Fill in the blank: The __________ model helps businesses evaluate the potential outcomes of different choices.
A
decision-making
4
Q
Which of the following is NOT a common factor influencing business choices? (A) Market trends (B) Personal preferences (C) Legal regulations (D) Customer feedback
A
B) Personal preferences
5
Q
What is a key consideration when making strategic business choices?
A
Assessing risks and potential rewards associated with each option.
