Why is decision-making important in business?
Answer and explanation
Correct answer: To choose the right step at the right time
Decision-making is necessary because a business must regularly choose what to buy, produce, sell, or improve. A timely and informed choice can use resources better, respond to customers, and reduce avoidable loss. Waiting forever prevents action, hiding information weakens judgement, and avoiding customers removes useful market knowledge. Therefore, option A is correct.
Frequently asked questions
What is the correct answer to this question?
To choose the right step at the right time
Why is this the correct answer?
Decision-making is necessary because a business must regularly choose what to buy, produce, sell, or improve. A timely and informed choice can use resources better, respond to customers, and reduce avoidable loss. Waiting forever prevents action, hiding information weakens judgement, and avoiding customers removes useful market knowledge. Therefore, option A is correct.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
