A long-term plan of action to achieve the objectives of the business
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Stategic decisions
Result in changes to long-term plans, involve many resources and are difficult to reverse.
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Tactical decisions
Involve meeting short-term targets, require fewer resources to implement and may be easy to reverse.
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Information management
The collection and assessment of information from one or more sources and the distribution of that information to the appropriate managers.
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Management information system (MIS)
A computer system designed to help managers plan, take decisions and control business operations.
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PEST analysis
The assessment of the external political, economic, social annd technological factors that may present constraints on strategic decisions made by a business.
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Scientific decision-making
An attempt to make logical business decisions on the basis of data that is analysed and tested.
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Other cards in this set
Card 2
Front
Result in changes to long-term plans, involve many resources and are difficult to reverse.
Back
Stategic decisions
Card 3
Front
Involve meeting short-term targets, require fewer resources to implement and may be easy to reverse.
Back
Card 4
Front
The collection and assessment of information from one or more sources and the distribution of that information to the appropriate managers.
Back
Card 5
Front
A computer system designed to help managers plan, take decisions and control business operations.
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