For example, if the situation was around investment, the benefits would include “return-on-investment (ROI)” as a parameter. Instead, if the situation was around implementing a new initiative, the benefits could include profit, market share, and customer satisfaction as some parameters. Let us look at some commonly seen decision frameworks and understand how they work. Multi-Criteria […]

Anderson Legal, Business & Tax Advisors is a business planning and consulting firm serving Las Vegas and the surrounding areas. It has been providing a wide range of legal and business solutions for almost three decades. Its services include virtual bookkeeping, tax planning, entity management, real estate asset protection, tax preparation, and audit protection. It […]

However, it doesn’t consider personal factors for the decision-maker, the questions may not be precise enough for some situations and it may not work as well for larger groups. Your answers to the questions then guide you toward one of five decision-making processes to use. Options range from making the decision based on what you […]

Unfortunately, the only available data is the level of activity (number of guests) in a given month and the total costs incurred in each month. Being a new hire at the company, the manager assigns you the task of anticipating the costs that would be incurred in the following month (September). High low method uses […]