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What role does a decision tree play in business dicision making?
Subratamondal131
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Why are information systems important in business today?
Information systems play an important in business today. Without effective, vibrant and updated information system in force, the business will be in doldrum and will be sidelined in the long run due to stiff competition prevalent in each and every business now a days.
What role do projects play in the strategic management process?
Projects play numerous roles in the strategic management process. Projects can focus on internal activities within a business as well as external customers.
What role does each characteristics of an agile MIS infrastructure play in helping UPS to operate its business?
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What roles do information systems play in business?
Information systems help managers meet their organization's goals. Information systems tell managers about inventory, quality and prices when it comes to their products.
What are The impact of inventory management on profitability of small scale enterprise?
Inventory management can play an important role in the profitability of a business in a way,,, for example If we hold a lot of inventory that means we spend (outflow of cash) and which can impact of our business profitability and in the same way if we hold a minimum in inventory that means much inflow that can lead to a better profitability, both of these end have to be cater very carefully. A number of techniques are used to control the inventory management such as EOQ Model, just in time techniques and and in modern era ERP system is one of the best example of inventory management system to improve the profitability of the business. As far as concerned with small scale enterprises inventory management play a vital role for the profitability of the business because generally it is presumed that small scale business has a little access on resources and if they spend all their money on the inventory then they do not have any cash for future and in this way they face serious problems such as might be loss of business. So the small scale businesses must act in this way that they hold a level of inventory that does not impact on its survival, they must use techniques to inventory management and in this way they get much more profits than expected.
What role does price elasticity demand play in decision making by business firms?
price elasticity
What role does a decision tree play in business decision-making?
Decision trees help managers visualize how their choices will play out within the organization. Using a decision tree, management can assess multiple options at once.
What role does the cost of capital play in the financial decision making of the firms top managers?
What role does the cost of capital play in the financial decision making
What role do values play in making ethical decisions?
Ethical decision making in a business or group context will be necessarily limited to actions and words as there is no way to know an individuals thoughts or motivation. As a result, ethical assessments will have an emphasis on actions and outcomes.
What role does critical thinking play in decision making?
Critical thinking is essential in decision making as it involves actively analyzing and evaluating information to make sound judgments. By using critical thinking skills, individuals can consider all perspectives, assess the validity of arguments, and identify potential biases or assumptions, which ultimately leads to making more informed and effective decisions.
What role do cross cultural communication cooperative decision making and collaborative problem solving play in multinational corporation management?
1. What role do cross-cultural communication play in multinational corporation management ? 2. What role do cooperative decision-making play in multinational corporation management ? 3. What role do collaborative problem-solving play in multinational corporation management ?
What lobes are responsible for higher and mental processes such as decision making?
The frontal lobes are responsible for higher mental processes such as decision making, problem solving, and reasoning. These lobes also play a role in personality, social behavior, and impulse control.
What should one take into account before making the decision to rent a kiosk in a mall?
One should take into account the type of customers one is looking for before they make a decision to rent a kiosk in a mall. How much space one needs will also play a big factor in whether or not renting a kiosk is right for their business.
What is the role of creativity in decision making?
Creativity is a process of developing and generating new novel and unique ideas, biews, opinions and systems to solve the provlems and to take dicision systematically. Dicision is a process of selecting best course of action among from many alternatives. Dicision making is an important functionof management because long term survival of organization always depends on managerial decision. Environment is competative and dynamic so development of creativity or unique ideas is essential for competitive strength. Cteativity is a process of analyzing organizational provlem by system ir is not a super human or supernatural ability but process of reflecting internal factors behaviors and knowledge which can be acquired from practice and experiences. Similarly it is not a devine gift of development or higher education. Environment is dynamic environmental factor market demand and fashion of today maynot be same in romorrow. Needs, desires and interests of costomer may be change as per environment. In this situation market cannot be lead by the organization only from traditional way of ecision making and hystorical ideas. So creativity play an important role to take modern decision from scientific approach. Creativity plays vital role in the process of decision making so role of creativity and decision can be explained with the help of following points: 1. It helps to generate scientific way and modern approach to solve organizational provlem. It helps to innovate new tecnilogy and new production system because without creativity innovation is impossible. 2. It helps to collect more information and evaluate them from different mathematical and statistical tools. It helps to scan internal and external environment. 3. It helps to allocate orgational resources properly and scitntifically.
What role do decision support system play in the business environment?
Typical roles decision support systems (DSS) play in business modeling are around advocating a certain thought around decision making use of the underlying data. For example : identifying from the underlying data who are the most profitable customers, what products are selling well in a certain market etc ...for organizations DSS could help in cost management as well (where is money getting spent for what) .. it could help in defining marketing strategy, it could help is supply chain management and pretty much in the whole ecosystem of the organization.
When should commonsense play a factor in life?
Commonsense should play a role in life and be a factor in decision making most of the time. There may be occasions when a daft decision may have good outcomes, but generally those made using commonsense will be better.
What role does management accounting play in decision making?
provide specific examples of these questions with respect to the use of a coutry's scarce resources
