How do you assess the potential outcomes of each decision before making a significant business decision?

[Shavkat]

This concern is very crucial when it comes to having business decisions. One wrong decision can bring down the whole company and its people. We need to use different tools before having the final decisions. Any suggestions to be used in giving business decisions?

 

[Magnus2022]

It is quite difficult to know how successful a business decision can be. If it is possible many businesses will not fail. Humans will always find it difficult to predict the future. The only way to access the possibility of success is to use research analysis.

 

[Reedex]

It is always better to carry out proper assessment on a decision before deciding to implement it in a business.

 

[Niyi Briggs]

I use cost- benefit analysis to know. I weigh the costs of that strategy and weigh the benefits. If the cost is less that the benefits, accept and reject if it is vice versa.

 

[eldavis]

In most cases it might not be possible to actually know the outcome of certain decisions made, this is why it is best to make sure that you make proper research and also enlist the help of others.

 

[Springtime]

Some businesses use What If Scenario Analysis to (WISA) to see how a given outcome, such as project costs, might be affected by changes in particular variables. WISA enables decision makers to assess possible outcomes from taking different decisions.

 

[Bisolami]

It is quite difficult to know how successful a business decision can be. If it is possible many businesses will not fail. Humans will always find it difficult to predict the future. The only way to access the possibility of success is to use research analysis.

You know there are times that we made plan for something but it will not go that way. It happens in business too

 

[uptrendfinancialsignal]

Putting the end user of your product into consideration is very important.

 

[Bisolami]

Putting the end user of your product into consideration is very important.

It is very important and that is why it is good to sell a used product that people can still use for a long time

 

[flower]

Before making a significant business decision, you will need to study the market well.