D1 Unit 4 
D1 - Unit 4 – Evaluating the appropriateness of business information used to make strategic decisions.
Long term decisions are very useful as they help the business to manage the money they possess efficiently and also give them a sense of direction and where they aspire to be in the long term which could be financially. Secondly when there are long term goals and targets set by the business the workers then have that sense of responsibility which is to produce the best possible work they could offer to achieve those long term goals and targets. If the business is doing well and exceeding their plans, then they could then set themselves new targets and long term goals. Strategic decisions are not only used by businesses to exceed goals and targets, they are also used in different areas of the business for e.g. resources are usually limited.
However, by using long term planning it will help to guide the business into using the best possible use of their resources. It is important for a business to know who their competitors are that’s why one good method that most businesses use is market research, this is used to show who your main rivals are and the prices for their products. Another reason why business want to know who their competitors are is because by spotting them out the business could then compare both businesses as a result of the comparison the business could spot potential opportunities or gaps in the service that the business could fill. For e.g the business’s competitors may be offering certain promotions or products that rent a car enterprise may not have considered. If a business wants to be superior to its competitors in the market then they must be different and unique, there are many ways to be unique and different they could use different use different brand logos and different brand names.
What is also vital is that a business should communicate its unique selling propisition. In order to remain competitive throughout the market then the
Long term decisions are very useful as they help the business to manage the money they possess efficiently and also give them a sense of direction and where they aspire to be in the long term which could be financially. Secondly when there are long term goals and targets set by the business the workers then have that sense of responsibility which is to produce the best possible work they could offer to achieve those long term goals and targets. If the business is doing well and exceeding their plans, then they could then set themselves new targets and long term goals. Strategic decisions are not only used by businesses to exceed goals and targets, they are also used in different areas of the business for e.g. resources are usually limited.
However, by using long term planning it will help to guide the business into using the best possible use of their resources. It is important for a business to know who their competitors are that’s why one good method that most businesses use is market research, this is used to show who your main rivals are and the prices for their products. Another reason why business want to know who their competitors are is because by spotting them out the business could then compare both businesses as a result of the comparison the business could spot potential opportunities or gaps in the service that the business could fill. For e.g the business’s competitors may be offering certain promotions or products that rent a car enterprise may not have considered. If a business wants to be superior to its competitors in the market then they must be different and unique, there are many ways to be unique and different they could use different use different brand logos and different brand names.
What is also vital is that a business should communicate its unique selling propisition. In order to remain competitive throughout the market then the