0
Why is it essential for business people to consider all fixed costs of production when making strategic decisions?
It is essential for business people to consider all fixed costs of production when making strategic decisions because fixed costs are expenses that do not change regardless of the level of production. By understanding and factoring in these costs, businesses can accurately assess their overall expenses and make informed decisions about pricing, production levels, and profitability. Failure to consider fixed costs can lead to inaccurate financial projections and potentially harmful strategic decisions.
What else can I help you with?
Why is entrepreneurial ability considered a category of economic resource that is distinct from labor?
Because the entrepreneur; takes the initiative, makes strategic business decisions, innovates, and bears risk.Entrepreneurial ability is considered to be a completely separate factor of production.
Why must e-business consider strategic planning to be a cyclical process?
It allows business decision makers to evaluate and react to the success of past decisions.
Role of quantitative technique in business?
Quantitative techniques in business managers make better decisions. Managers can use the information to determine strategic objectives for the company.
Business cycles occur in free enterprise systems because?
A business cycle is the monitoring of the ups and downs within a market. Free enterprise is subject to business cycles because of the many economic decisions about factors including prices, production, and consumption that are based on various markets within the area of free enterprise.
Can a business president make informed decisions?
A business president can make informed decisions. Not every business president makes informed decisions, but there are at least some business presidents who bother to become well informed before they make their business decisions.
Why information system are essential to business?
Information system are essential to business for various reasons. Such systems are used for data analysis and evaluation which will help a business in making critical decisions and strategic plans among other things.
What is strategic level of production?
The strategic level of production refers to long-term decisions that shape the overall direction and framework of a company's manufacturing processes. This includes planning for capacity, technology investments, supply chain management, and aligning production capabilities with business goals. At this level, organizations assess market trends, competitive positioning, and resource allocation to optimize efficiency and profitability. Ultimately, strategic production decisions aim to enhance the company's competitive advantage and ensure sustainable growth.
What are the main functions of an entreprenuer?
take initiative in combining their resources, make strategic business decisions, be innovative with production & marketing their product and bear the risk of success or failure for their innovation.
What are the advantages and disadvantages of strategic business unit?
An advantage of a strategic business unit is its ability to react to change. A disadvantage is the need for advanced technology to make decisions.
What is business policy and strategy?
Using business policy and strategy is called strategic management. Strategic management helps business make decisions and use information that help achieve company objectives.
What differentiate strategic decision from other types of decisions?
Strategic decisions can be distinguished from other types of decisions because it is:Rare: we dont make strategic decision very often.Consequential: is has a future impact on our business in the long term.Directive and binding: the strategic decision we make today will be directed to certain goal and vision, and we will be committed to it.
What is policy and strategy?
Using business policy and strategy is called strategic management. Strategic management helps business make decisions and use information that help achieve company objectives.
Scope of strategic management?
Strategic management helps businesses focus on the overall direction of the organization. When a business operates strategically, their manager's decisions are competitive.
Characteristics of production and operations management decisions?
Making decisions that help make business more efficient are part of production and operations management. Other characteristics include conscientious and tactical decisions.
How information systems support business operation and decisions making strategic advantage an e-business enterprise and e-commerce at a company?
jól
Define strategic management?
Strategic management is the process of assessing and analyzing decisions across every functional area of a business. More businesses are becoming strategic in order to improve their competitive position.
Why is entrepreneurial ability considered a category of economic resource that is distinct from labor?
Because the entrepreneur; takes the initiative, makes strategic business decisions, innovates, and bears risk.Entrepreneurial ability is considered to be a completely separate factor of production.
