Answer to Question #180174 in Economics of Enterprise for maria

Question

State the six steps in managerial decision making that lead to competitive advantage

Answer 1

Step 1: identify the decision that needs to be made.

Step 2: Gather relevant information so that you can make decision based on facts and data.

Step 3: Identify the alternatives as possible solutions to the problem.

Step 4: Analyze and choose the best alternative

Step 5: Implement the alternative chosen.

Step 6: Review your decision and its consequences.