The method for improving strategic decision making involves having a separate team or individual carefully analyze and critique the underlying assumptions and potential downsides of a proposed course of action is called as Devils Advocacy.
<h3>What is Devils Advocacy?</h3>
Devils Advocacy refers to the method in which the person provokes the other person to have arguments and debate with the other. It is done to test the other person strength to make the strong arguments.
It can be done for the right decision when to correct the thinking of the other person also to have the racial approach to the situation.
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Answer:
1. Debit Interest Expense $7,000; debit Notes Payable $7,238; credit Cash $14,238.
Explanation:
The journal entry is shown below:
Note payable A/c Dr $7,238
Interest expense A/c Dr $7,000
To Cash A/c $14,238
(Being the first payment on the note is recorded)
The computation of the interest expense is shown below:
= Borrowed amount × rate of interest
= $100,000 × 7%
= $7,000
And, the remaining balance left is reported in the note payable account
Answer:
D. Considering all business aspects when marketing products
Explanation:
When a whole business (in general) is considered for the marketing strategy, it forms a holistic marketing approach. In this type of strategy different departments of an organization come together to give positive inputs that create a robust business marketing strategy.
Provide buyers superior value relative to the offerings of rival sellers in order to attain a competitive advantage.
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Explanation:</u></h3>
The strategy or the plan that is being used by a company in a long term for the purpose of gaining advantage over the competitors of the similar field refers to the Competitive Strategy. The main aim of using competitive advantage in the creation of a defensive position so that the competitors will not compete with the company and also aims in attaining higher return on investment.
The types of competitive strategies are differentiation strategies,focus strategies and Cost-leadership strategies. Thus competitive strategies aims in providing superior value to the offerings given to the buyers and gaining a competitive advantage.
the answer I believe is effort. any business owner has to contribute and keep track of sales and what to discount 2 keep business functional, and profitable..
