BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Collecting relevant information
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Analyzing and weighing alternatives
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Identifying alternatives
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Selecting among alternatives
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Detailed explanation-1: -Evaluation of alternatives involves weighing for feasibility, acceptability and desirability of the alternatives obtained for a given problem. Hence, Evaluation of alternatives is the correct answer.
Detailed explanation-2: -during the planning stage of a decision.
Detailed explanation-3: -Economic Feasibility This assessment typically involves a cost/ benefits analysis of the project, helping organizations determine the viability, cost, and benefits associated with a project before financial resources are allocated.
Detailed explanation-4: -First, the alternative should match the goals and objectives of the business. Second, the alternative should match the current assessment of the strengths of the business. Third, market opportunities need to exist for the products. Lastly, the product should be able to be made efficiently and effectively.
Detailed explanation-5: -A feasibility study assesses whether or not you can develop a product according to the specifications in your project plan. A cost-benefit analysis looks at whether developing the product’s benefits outweigh the costs.