Business Decision Making Unit 7

Business principles and practices are the fundamental ideas and methods that guide business decisions.

Business decisions are choices made by companies about how to operate and achieve their goals.

Business data and information refers to facts and figures collected and analyzed by businesses to understand their performance and market.

Interpreting business data means understanding the meaning and implications of the information gathered.

Formulating decisions involves carefully considering options and making a choice based on available information.

Solving business problems means finding effective solutions to challenges faced by the company.

Business documents are written records that communicate information about business decisions and activities.

Presenting business decisions involves effectively communicating your choices and the rationale behind them.

A three-wheeled vehicle powered by an electric motor.

A traditional three-wheeled vehicle powered by gasoline or diesel.

Auto rickshaws are being replaced by electric rickshaws due to their environmental benefits.

E-rickshaws are a more eco-friendly alternative to traditional auto rickshaws.

E-rickshaws are becoming more popular as a sustainable transportation solution in cities.

An electric bicycle, also known as an e-bike, is a bicycle with an integrated electric motor that assists the rider in pedaling, providing extra power.

Shiro's idea involves renting out e-bikes to tourists who want to explore the city independently at their own pace.

E-bikes offer a more environmentally friendly way to explore a city compared to traditional vehicles such as cars.

The business requires storage for the e-bikes and access to electric charging points to recharge them for the next customer.

Shiro plans to offer detailed maps with suggested cycling routes and safety advice to ensure customers have a positive and safe experience.

Customers can reserve e-bikes online or visit the rental store in person.

Customers can collect their rented e-bike directly from the store in the city center, ready to start their tour.

The proposed business model for e-bike rental will cater to environmentally minded tourists who want to explore the city at their own pace, using clean transportation.

The factors that affect the creation of a business idea or goal in a specific situation.

How different elements within and outside a business can impact the outcome of a decision.

The process of analyzing current business situations and using existing information to understand its context.

Examining how various factors within a business organization affect its present state.

Information that is used by companies to make informed decisions.

Choosing relevant data from existing sources to help with decision-making.

Analyzing the current situation of a business to identify areas for improvement.

Making a choice between two business options based on careful analysis and clear reasoning.

The information gathered to understand the current state and potential of the company.

A plan of action that outlines how a company will achieve its goals.

Factors that affect the development of a business idea or objective, like target audience, competition, and resources.

Understanding the relative importance of different factors when making business decisions.

Formulating a business objective involves defining clear, measurable goals for the company.

The process of gathering and analyzing information about a business to make informed decisions.

This is the process of identifying, analyzing, and weighing the positive and negative consequences of different business decisions.

This is the specific information that is gathered and analyzed to help make a business decision.

This is the conclusion reached after analyzing data and applying reasoning. It's what you expect will happen after making a decision.

This is a detailed explanation of the reasons behind a business decision. It should be clear, logical, and supported by evidence.

This is a set of actions or strategies chosen by a business to achieve its goals.

This is a formal document or presentation that outlines the business decision, the data used, the reasoning, and the expected outcome.

These are visual slides used to present business decisions in a structured and impactful way.

This refers to the high level of professionalism expected when presenting business decisions to colleagues, clients, or investors.