Which of the following statements best describes the business value of improved decision making?
A) Improved decision making creates better products.
B) Improved decision making results in a large monetary value for the firm as numerous small daily decisions affecting efficiency, production, costs, and more add up to large annual values.
C) Improved decision making enables senior executives to more accurately foresee future financial trends.
D) Improved decision making strengthens customer and supplier intimacy, which reduces costs.

Question

Quizplus · Accepted Answer

Improved decision making affects various aspects of a business such as efficiency, production, costs, and more. Cumulatively, it results in a large monetary value for the firm, making it the best choice. Option A is incorrect because while improved decision making can result in better products, it is not the primary business value. Option C is incorrect since it only benefits senior executives, and Option D is incorrect since while it may strengthen customer and supplier intimacy, the business value is not well-defined.

Which of the Following Statements Best Describes the Business Value