Answer the following questions using the information below:
Schwimmer Lighting manufactures small flashlights and is considering raising the price by 50 cents a unit for the coming year. With a 50-cent price increase, demand is expected to fall by 6,000 units.

-When using the five-step decision process, which one of the following steps should be done first?
A)Obtain information
B)Choose an alternative
C)Evaluation and feedback
D)Implementing the decision

Question

Answer the following questions using the information below:
Schwimmer Lighting manufactures small flashlights and is considering raising the price by 50 cents a unit for the coming year. With a 50-cent price increase, demand is expected to fall by 6,000 units.
 
-When using the five-step decision process, which one of the following steps should be done first?
A)Obtain information 
B)Choose an alternative 
C)Evaluation and feedback 
D)Implementing the decision

Quizplus · Accepted Answer

The first step in the five-step decision process is to obtain information, and in this case, Schwimmer Lighting would need to gather data on the current demand for their flashlights and the potential impact of a 50-cent price increase on that demand. This information will inform the subsequent steps of the decision process, such as evaluating alternative courses of action and ultimately implementing a decision.

Answer the Following Questions Using the Information Below