What is 'scenario planning' primarily used for in business decision-making?

1.7 The factors influencing the quality and effectiveness Quiz

Quiz
•
Financial Education
•
12th Grade
•
Medium

Lenna Alexandre
Used 1+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Increasing sales
Reducing overhead costs
Predicting future outcomes
Hiring employees
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following is a financial benefit of business decisions?
Improved employee morale
Increased market share
Higher revenue
Enhanced brand reputation
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Why is 'what-if?' analysis important in business?
It guarantees profits
It allows businesses to explore different outcomes
It simplifies decision-making
It reduces the need for market research
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is a non-financial benefit of a business decision?
Increased profit margins
Cost savings
Enhanced customer satisfaction
Higher sales figures
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which factor can influence the time needed to make a business decision?
Organisational bias
Employee turnover
Complexity of the decision
Brand loyalty
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What role do ethics play in decision making in accounting?
Ensuring legal compliance
Maximising profits at any cost
Minimising tax liabilities
Enhancing transparency and trust
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is a key skill necessary for effective decision-making in business?
Public speaking
Technical writing
Analytical thinking
Salesmanship
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