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Process of strategic analysis

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Question

In order to assist the manager you are compiling a resource which will define the various management accounting terms used in the process of strategic analysis. Provide an explanation of the following terms, with examples specifically relating to Boutique Catering, to include in a resource file which incorporates a reason why each concept is relevant or not relevant to decision-making:

Satisficing model
Simulation
Opportunity Cost
Sunk cost
Break-even point

Reference no: EM13332328

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