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1. Read the following business decision scenario and then answer the questions
You and your sister are taking over the family business from your father. The business is an agricultural supply shop (provides chemicals, animal feeds, equipment for farmers) on the outskirts of a large city. When your family started the business it was in a farming community quite distant from the city centre. Today the city has grown out towards the store location and you now have a mixture of farmers and people living on small acreages in the areas around the store. The store turnover is steady but hasn't grown in years and it isn't enough to support two managerial salaries. Your sister thinks you need to offer a wider range of different types of farm supplies and expand into providing classes and advice to customers. But both those options could be expensive. How do you decide if you should expand and if you do which option?
Your answer based on the scenario
What is the assumed problem?
What is the evidence provided for the assumed problem?
What is the preferred solution?
What is the evidence for the preferred solution?
What information might be useful to have to help with this decision?
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