Decision MakingExhibit P–2 from within the Prologue includes 12 questions related to 12 types of decisions that companies often face. In the prologue, these 12 decisions were discussed within the context of for-profit companies; however, they are also readily applicable to nonprofit organizations. To illustrate this point, assume that you are a senior leader, such as a president, provost, or dean, in a university setting.Required:For each of the 12 decisions in Exhibit P–2, provide an example of how that type of decision might be applicable to a university setting.Exhibit P–2: Examples of Decisions What should we be selling?Who should we be serving?How should we execute?What products and servicesshould be the focus of ourmarketing efforts?What new products andservices should we offer?What prices should we charge Who should pay price premiums How should we reduce ourfor our products and services?What products and servicesshould we discontinue?Who should be the focus of ourmarketing efforts?How should we supply ourparts and services?Who should we startHow should we expand ourserving?capacity?or receive price discounts?Who should we stopcapacity?How should we improve ourefficiency and effectiveness?serving?

Decision making: Decision making is a process of selecting a best possible action from several…

Answered: What should we be selling? Who should…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Decision Making

Exhibit P–2 from within the Prologue includes 12 questions related to 12 types of decisions that companies often face. In the prologue, these 12 decisions were discussed within the context of for-profit companies; however, they are also readily applicable to nonprofit organizations. To illustrate this point, assume that you are a senior leader, such as a president, provost, or dean, in a university setting.

Required:

For each of the 12 decisions in Exhibit P–2, provide an example of how that type of decision might be applicable to a university setting.

Exhibit P–2: Examples of Decisions

What should we be selling?
Who should we be serving?
How should we execute?
What products and services
should be the focus of our
marketing efforts?
What new products and
services should we offer?
What prices should we charge Who should pay price premiums How should we reduce our
for our products and services?
What products and services
should we discontinue?
Who should be the focus of our
marketing efforts?
How should we supply our
parts and services?
Who should we start
How should we expand our
serving?
capacity?
or receive price discounts?
Who should we stop
capacity?
How should we improve our
efficiency and effectiveness?
serving?

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