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Scientific approach to managerial decision-making

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Reference no: EM133018914

Quantitative analysis is the scientific approach to managerial decision-making.

An example of this would be to determine the outcome if the company raised their prices and if sales would decrease. What would be the overall profit margin?

Qualitative analysis takes it to the next level to dig deeper into what the future holds and determine future strategy. You could inquire as to where the company should go in order to increase the sales. Example of this would be to compare similar products with other companies to determine estimated future growth

Reference no: EM133018914

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