Decision Making Models Flashcards
1
Q
What are tactical decisions
A
Medium term decisions made after strategic decisions have been agreed
Easier to predict the impact of tactical decisions
Usually taken by senior managers of a business
2
Q
What are operational decisions!
A
Routine decisions taken on a daily basis
Taken by middle or junior managers
3
Q
What is SWOT analysis
A
A four factor model that details the strengths, weaknesses, opportunities and threats to a business - this helps managers to devote business strategies
4
Q
What are strategic decisions
A
Long term decisions affecting the general direction of the business
Made to help the business achieve it’s long term aims
They are usually expensive and high risk
