Liquid Chemical Company Executive Summary Identifying all of the information relevant to a particular business decision is a challenging task because relevance is a broad concept. The process requires an understanding of quantitative and qualitative information, a grasp of legal issues, sensitivity to ethical concerns and an ability to discern fact from decision. Virtually all business decisions involve choosing among alternative courses of action. The only information relevant to a decision is that which varies …
showed first 75 words of 2865 total

showed last 75 words of 2865 total
…to evaluating the opportunity costs associated with a make or buy decision, managers must evaluate other important concerns. For instance, does the decision to make or buy involve issues of product quality? Are there questions regarding the decision's impact on production scheduling and flexibility? Have certain long- term implications been considered such as product availability and maintaining reliable supplier relationship? Ignoring important questions such as these is a common source of error in incremental analyses.