Reference no: EM13396960

Tasks, decision making and planning assignment

1. A shop manager has to make a decision. A regular customer wants her money back, as the goods she bought as a present are not wanted. The shop has a strict policy of no refunds after 14 days; the purchase was made three weeks ago. What kind of decision has to be made by the manager and why? (4 marks) 1.

2. A business investor needs to make a decision. If she invests £10,000 in company A ad it is successful she will make £50,000. If it fails she will lose her £10,000. If she invests in company B with the same amount and it is successful, she will make £15,000, but if it fails she will get back £7,000 of her investment. What kind of decision is being made and why? (8 marks)

Scenario 1 Henry Lewin has set up a small business importing digital cameras. He stocks a wide range of different cameras, printing accessories, cables, batteries and memory cards. He has to import his cameras. He runs his business in the High Street of Taunton. Henry has formed a limited company and has 15 shareholders made up of family and very close friends.

1. Suggest 3 decisions that Henry may have had to make before setting up his business (3 marks) 2. Once the business was up and running Henry had many routine tasks to carry out. Explain, using a possible example from Henry’s business, what is meant by the term ‘routine task’. (2 marks) 3. Explain why it is important that Henry plans his stock of cameras for the business.