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Illustration of short-term decisions
These are, to a significant extent, determined by the excellence of the firm's long-term decisions. Illustration of short-term decisions includes the following:1. What selling prices should be set for the firm's products?2. How many units must be generated of each product?3. What media shall we use for advertising the firm's product?4. What level of service shall we recommend customers in terms of the number of days needed to deliver an order and the after-sales service?
Data must also be gathered for short-term decisions; for illustration, data on the selling prices of competitor's products, predicted demand at alternative selling prices, and predicted costs for various activity levels should be assembled for pricing and output decisions. Whenever the data has been gathered, management must decide which course of action to take.
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1. In order to boost the housing market throughout 2009 and into 2010, the federal government offered a tax credit to first-time home buyers and some repeat buyers.
The Search for Alternative Courses of Action The second stage of the decision-making model is a search for a range of possible courses of action (or strategies) that might enab
Ranking of Decision Packages The ranking procedure is employed to establish a rank priority of decision packages in the organization. Throughout the ranking procedure managers
Anthony''s orchard
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