Decision Making

Question 1

Strategic decision?

Answer 1

Long term 
Top management 
Company objectives 
Lack specific detail
Affect entire business
Proactive to stay ahead of the competition

Question 2

Tactical decision

Answer 2

Monthly basis
Middle management
Achieve main objectives
Very soecific

Question 3

Operational decision

Answer 3

Daily weekly basis
Made by all
Reactive when change occurs

Question 4

How to evaluate decisions?

Answer 4

Have objectives been reached
Organisation operating effectively 
Increase in sales or profits
Staff morale increased
Staff absenteeism decreases
Greater market share
Do questionnaires to see if results are positive

Question 5

What factors influence quality of decision makjngV

Answer 5

Accuracy of information gathered
Limited technology
Staff training 
Risk taking 
Time and finance restraints

Question 6

Role of manager

Answer 6

Planning 
Organising
Commanding 
Controlling 
Coordinating
Delegating 
Motivating

Question 7

Swot analysis

Answer 7

Planning tool that assessed potential risks and rewards
Considers effectiveness of the business environment
Helps evaluate and adjust strategies
Helps a company operate in a competitive environment

Question 8

Benefits of swot analysis

Answer 8

Builds on strengths, minus miss weaknesses, grasp opportunities, avoid counter threats
Turn threats into opportunities and weaknesses into strengths
Gains competitive edge by identifying opportunities early
Proactive decision making rather than reactive