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Category Archives for Short-Term Decision Making
Short-term decision making and relevant information
Managers make lots of short-term decisions. We will begin looking at how managers make decisions and how to determine if information gathered is relevant to the process. The decision making process When
Learn MoreSpecial order decisions
One type of short-term decision that businesses frequently have to make is whether or not to accept special order requests from customers. A special order is an order that the company did not anticipate
Learn MorePrice Setting
When launching a new product or service, one of the hardest decisions a business must make is the price of the product. Every other component of the product launch could be perfect, but if the price is
Learn MoreKeep or Drop: Discontinuing products, departments, and locations
Sometimes when a business sees that a product, department, or location is losing money, the first reaction is to shut it down. Discontinuing operations is a decision that should only be taken after careful
Learn MoreProduct Mix and Constrained Resources
Resources are finite. A business only has so many man hours, so many square feet, and so much machinery. Over the long term, a company can expand its capacity but in the short term, it must make important
Learn MoreMake or Buy and Outsourcing Decisions
Outsourcing is a hot topic in business right now. Outsourcing is when a company decides to purchase a product or service from another company rather than make the product or perform the service itself.
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