COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Diversify product offering over the next 10 years
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Decide on appropriate premises for new stores to be opened
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Close stores in EU after Brexit
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Detailed explanation-1: -Tactical Decisions means decisions that determine the objectives to satisfy the goals set by strategic decision makers, usually made by designees of the strategic decision makers, including command or general staff within the incident command system.
Detailed explanation-2: -The Tactical Decision-Making Process is the military version of the decision-making process tailored to the unique needs of the military. TDMP consists of four essential steps: Mission Analysis, Course of Action Development, Course of Action Analysis/Comparison, and Decision & Execution.
Detailed explanation-3: -Tactical decisions are the next class of critically important business decisions. They focus on more specific implementations of the general strategy with a medium-term effect on a business. For example, developing a sales strategy or assigning tasks to staff members are tactical decisions.
Detailed explanation-4: -departmental, or individual levels than the overall firm level. Tactical decisions are also called. functional level decisions as these decisions are related to financing, investing, and human. resources of the firm. Generally, tactical decisions are made by senior managers of the firm.