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  7. Unit 7 - Business Decision Making

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Summary Unit 7 - Business Decision Making

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This document provides information to structure your report and the presentation for unit 7 decision-making. It provides one -to one step and well as explained in detail how to achieve each instruction.

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  • December 29, 2022
  • 3
  • 2022/2023
  • Summary

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Unit 7- Decision making Guidance and Structure. Activity 1 and 2 Coved.



1. Introduction - Set out the current situation the business is in
- Identify the options that the report will cover
- Remember to write in the context of the scenario

2. Current Business Set the context of the business, identifying any of the following
position reference in the case study:

- Current situation; e.g. market they operate in,
products/services etc.
- Market Trends; e.g. market growth / decline, skills gaps etc.
- Competition; e.g. position in the market, threats, closest
competitors etc.

3. Financial Trends Analyse the financial data provided for the current situation:

- Analyse any trends if it provides current and past data e.g.
profitability
- Analyse any trends if it provides business and market data
e.g. revenue

4. Implications for 4.1 - Implications for Human Resources:
Resources
- The implications on HR; e.g. recruitment, training, upskilling
etc.

4.2 - Implications for Physical Resources:

- The implications on physical resources; e.g. premises,
vehicles, equipment etc.

4.3 - Implications for Financial Resources:

- How much will each venture cost? (start-up/ running costs)
What sources of finance are needed / available?

4.4 - Implications for Time:

- How long does each venture take to launch / become
lucrative?

5. Key Factors and Complete a SWOT Analysis of Option 1
Risks
Complete a SWOT Analysis of Option 2

Throughout the analysis of both options you should include:

- Links to the size and scale of the business
- Links to the timescale of the option
- Links to the aims and objectives of the business
- Links to the nature of the business, the market and
competitiveness

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