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    Explain how the rate of change in the business environment affects the need to make and re-evaluate decisions. What are the consequences of not re-evaluating decisions frequently?

    Give an example of a business that failed to re-evaluate previous decisions, and the consequences it suffered as a result.

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    Solution-Oriented Decision Models

    Explain how the rate of change in the business environment affects the need to make and re-evaluate decisions. What are the consequences of not re-evaluating decisions frequently?
    The rate of change in the business environment affects the need to make and re-evaluate decision. The business decisions are made to a great extent in the context of the business environment. If a business does re-examine its decisions and re-evaluate decisions in response to changes in the business environment, the business loses its competitive position, its market share, its profitability, or even its legal status.
    The business environment may change in several ways. For instance, there may be new technologies introduced in manufacturing that reduce costs. If a business does not change its technology, it will lose out ...

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    Solution-Oriented Decision Models is discussed very comprehensively in this explanation..

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