Mind map
Decision-Making Model
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Decision-Making Model
Identify Problem: What has caused sales to fall? E.g. recession
Identify the Objective: What goal is the firm going to pursue? E.g. Increase sales by 20% through launch of new website
Gather Information: What would the cost be?
Analyse the Information: Can the firm afford this expenditure?
Devise Alternative Solutions: Buy over an existing company
Select a Solution: Introduce the firm's own website
Communicate the Decision: Let the main stakeholders know e.g. staff, shareholders
Implement the Decision: Arrange the launch of the website and possible closure of shops
Evaluate the Results: Compare your increase in sales with the firms objectives
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- Mind Map on Decision-Making Model, created by Ellis Coyle on 09/05/2015.
- Created by
- Ellis Coyle · May 2015
- Updated
- Feb 19, 2016
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