The best business decisions are always based on hard facts. Discuss.

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THE BEST BUSINESS DECISIONS ARE ALWAYS BASED ON HARD FACTS. DISCUS

Scientific decision making, using the marketing model, is a good way to plan how to make a decision. Setting objectives, gathering and analysing data and then developing and implementing a strategy is important when making decisions. However, by just using the marketing model to make a decision may not be the best way to go about making decisions. There are a number of different factors which need to be looked at to benefit the most from making a certain decision and instinct and also be used.

By using the marketing model the business is reducing risk in the making the decision. However this way costs a lot of money especially the research so it may not be effective to use it. Instead a 'hunch', or gut instinct, may be better to use to base the decision on. For smaller decisions, such as day-to-day choices, it may be more useful to the company to not use the marketing model because it would take much longer to make decisions. If, for instance, a business was trying to decide how many pencils it bought, as this is a small, relatively