Business – 1.4 Business objectives – Objectives and business decisions | e-Consult
1.4 Business objectives – Objectives and business decisions (1 questions)
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The retailer is currently in the Identify the problem or opportunity stage, having recognised a sales decline.
The next two stages are:
- Develop alternatives
- Possible actions might include launching a promotional campaign, expanding the product range, or improving online sales channels. Each alternative is generated with the objective of achieving an 8% sales increase in mind.
- Evaluate alternatives and select the best option
- Each alternative is assessed against criteria such as cost, time to implement, and expected contribution to the 8% sales growth target. The option that offers the highest likelihood of meeting the objective within six months is chosen.