Business Decisions
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What are some business decisions that managers could make? What tools will they use to make recommendations regarding these business decisions? Why? How will they measure the success of their recommendations?
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The solution does a great job of explaining the concepts being asked in the question. The solution is very well explained and detailed. A good response for anyone looking to get a deeper understanding of the economics concepts. Overall, an excellent response.
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A manager can make several business decisions in his career. Some of the business decisions may be measurable and quantifiable while some others may be more qualitative in nature. I will discuss examples of both these types of business decisions.
One example of a quantifiable decision could be to invest in a particular project or not. The company may be expanding and running out of either machinery or space. The business manager may be faced with the dilemma of either to invest in more warehouse ...
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