Source: https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/2-2-1-scientific-decision-making [Revision notes](https://senecalearning.com/en-gb/revision-notes.md) › [A Level](https://senecalearning.com/en-gb/revision-notes/a-level.md) › [Business](https://senecalearning.com/en-gb/revision-notes/a-level/business.md) › [AQA](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa.md) › Scientific Decision Making # Scientific Decision Making Business: AQA A Level (2023 Specification), topic 2.2.1 ## Decision Making Decisions can be made using different approaches. Either using scientific data, or based upon past experiences. ### Methods to make decisions ![Methods to make decisions](https://image-v2.cdn.app.senecalearning.com/2018-09/86856917-f136-4dbe-9414-0e2b4066df6b/choice-decision-.jpg) - When decisions are made, managers can use different approaches to support them: - Decisions can be made scientifically using data available to the manager. - Decisions can be made based upon intuition and the experiences of a manager. ### Advantages of scientific decision making ![Advantages of scientific decision making](https://image-v2.cdn.app.senecalearning.com/2018-05/d9abeb87-aa7a-42d6-adef-7e16a3f6dc59/tick-305245_960_720.png) - Scientific decision making reduces the risk of making mistakes as decisions are based on data. - Another advantage is that using data provides guidance for managers who may have limited intuition through lack of experience. ### Disadvantages of scientific decision making ![Disadvantages of scientific decision making](https://image-v2.cdn.app.senecalearning.com/2018-09/796d9df8-e274-426c-a397-a3acc247c320/pen-self-report-questionnaire-rate-cross-.jpg) - Scientific decision making can be time-consuming to collect the data required. - Relying on data may mean that the experience or expertise of staff may not be considered. - Using out of date or poor data is unreliable and can affect the quality of the decision made. ### Factors influencing decision making ![Factors influencing decision making](https://image-v2.cdn.app.senecalearning.com/2018-09/0cc17e9e-cee1-450a-8a85-caf93123af13/profits-graph-statistics-.jpg) - The availability and reliability of data are essential if a manager chooses to use scientific decision making. If data is not available, the scientific decision-making approach cannot be used. - The manager’s experience is vital, as inexperienced managers are more likely to use scientific decision making because they have no experience or expertise. - The risk that a business is willing to accept is crucial. Scientific decision making typically carries less risk so suits businesses that are less willing to accept risk. ### Decision trees ![Decision trees](https://image-v2.cdn.app.senecalearning.com/2018-09/2543db2f-04ef-4157-a9be-3a8c69307537/tree-bodhi-.jpg) - If managers choose to adopt a scientific decision making approach, they can use a decision tree to help them. A decision tree allows a business to compare outcomes of two or more options or decisions. - A decision tree will examine the probability of each outcome for each decision made. - A decision tree will multiply the probability with each outcome to calculate an estimated value (EV) for each option or decision being considered. ## Example of Decision Making Imagine a restaurant is deciding whether to expand (option 1) or open a new location (option 2). Here, a decision tree can be used to examine the range of possible outcomes. ### Option 1 ![Option 1](https://image-v2.cdn.app.senecalearning.com/courseImages/physics/1.4.2%20Equilibrium/math-1500720_640-min.jpg) - In option 1, there may be a 70% chance of receiving a £10,000 pay-off or a 30% chance of a £20,000 pay-off. - To calculate the EV for option 1: - Multiply 0.70 (probability expressed as a decimal) by £10,000 to get £7,000. - Multiply 0.30 (probability expressed as a decimal) by £20,000 to get £6,000. - Using these probabilities and outcomes, the estimated value (EV) of option 1 is £13,000. ### Option 2 ![Option 2](https://image-v2.cdn.app.senecalearning.com/2018-09/20334b5d-1b76-4e02-ba69-a21455d2e814/trigonometry-calculator-maths-.jpg) - In option 2, there may be a 20% chance of receiving a £7,000 pay-off or an 80% chance of a £15,000 pay-off. - To calculate the EV for option 2: - Multiply 0.20 (probability expressed as a decimal) by £7,000 to get £1,400 - Multiply 0.80 (probability expressed as a decimal) by £15,000 to get £12,000 - Using these probabilities and outcomes, the estimated value (EV) of option 2 is £13,400 ### Conclusion ![Conclusion](https://image-v2.cdn.app.senecalearning.com/2018-11/0646d2b6-4a81-43d8-9774-1facd09032b9/conclusion-.jpg) - Comparing estimated values for option one and two, scientifically it can be seen that option 2 is probably the best course of action for the manager to take based on the data available. ## Test yourself on Scientific Decision Making - Which style of decision making is more time-consuming? - _A business is deciding whether to launch a new product (option 1) or enter a new market (option 2). Option 1 has an 80% chance of receiving a £35,000 pay off or a 20% chance of receiving a £50,000 pay off. Option 2 has a 40% chance of a £40,000 pay off or a 60% chance of a £50,000 pay off._ Which option is preferable for the business? - A business is deciding whether to expand its product portfolio (option 1) or open a new store (option 2). Option 1 has a 75% chance of receiving a £15,000 pay-off or a 25% chance of receiving a £20,000 pay-off. Option 2 has a 70% chance of receiving a £18,000 pay-off or a 30% chance of a £22,000 pay-off. Which EV is highest? [Practise this topic for free](https://app.senecalearning.com/classroom/course/609d2093-4bcc-4d5d-a0d3-3b20148430cd/section/956ef872-9e85-4551-93d7-18e332aea7a6/session) - Previous topic: [2.1.5 End of Topic Test - Management](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/2-1-5-end-of-topic-test-management.md) - Next topic: [2.2.2 Influences on Decision Making](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/2-2-2-influences-on-decision-making.md) ## Business: AQA A Level (2023 Specification) contents ### 1 What is Business? - 1.1 Nature & Purpose of Business - [1.1.1 Why Businesses Exist](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/1-1-1-why-businesses-exist.md) - [1.1.2 Business Aims & Objectives](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/1-1-2-business-aims-and-objectives.md) - [1.1.3 End of Topic Test - The Nature of Business](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/1-1-3-end-of-topic-test-the-nature-of-business.md) - 1.2 Different Business Forms - [1.2.1 Key Business Terms](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/1-2-1-key-business-terms.md) - [1.2.2 Sole Traders](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/1-2-2-sole-traders.md) - [1.2.3 Limited Liability](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/1-2-3-limited-liability.md) - [1.2.4 Non-Profit Organisations & Social Enterprises](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/1-2-4-non-profit-organisations-and-social-enterprises.md) - [1.2.5 Social Enterprises](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/1-2-5-social-enterprises.md) - [1.2.6 Franchising](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/1-2-6-franchising.md) - [1.2.7 Shareholders](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/1-2-7-shareholders.md) - [1.2.8 End of Topic Test - Different Businesses](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/1-2-8-end-of-topic-test-different-businesses.md) - [1.2.9 A-A* (AO3/4) - Franchising at Blockbuster](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/1-2-9-a-a-ao34-franchising-at-blockbuster.md) - 1.3 Businesses Operate Within an External Environment - [1.3.1 External Environments](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/1-3-1-external-environments.md) - [1.3.2 A-A* (AO3/4) - Interest Rates in the UK](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/1-3-2-a-a-ao34-interest-rates-in-the-uk.md) ### 2 Managers, Leadership & Decision Making - 2.1 Management, Leadership & Decision Making - [2.1.1 Managers](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/2-1-1-managers.md) - [2.1.2 Management Theories](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/2-1-2-management-theories.md) - [2.1.3 Management vs Leadership](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/2-1-3-management-vs-leadership.md) - [2.1.4 Leadership Styles](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/2-1-4-leadership-styles.md) - [2.1.5 End of Topic Test - Management](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/2-1-5-end-of-topic-test-management.md) - 2.2 Management Decision Making - [2.2.1 Scientific Decision Making](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/2-2-1-scientific-decision-making.md) - [2.2.2 Influences on Decision Making](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/2-2-2-influences-on-decision-making.md) - [2.2.3 Intuition Decision Making](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/2-2-3-intuition-decision-making.md) - [2.2.4 A-A* (AO3/4) - Cost Leadership](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/2-2-4-a-a-ao34-cost-leadership.md) - [2.2.5 End of Topic Test - Management Decisions](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/2-2-5-end-of-topic-test-management-decisions.md) - 2.3 Role & Importance of Stakeholders - [2.3.1 Stakeholders](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/2-3-1-stakeholders.md) ### 3 Marketing Management - 3.1 Setting Marketing Objectives - [3.1.1 Setting Marketing Objectives](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-1-1-setting-marketing-objectives.md) - [3.1.2 Market Calculations](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-1-2-market-calculations.md) - 3.2 Understanding Markets & Customers - [3.2.1 Market Research](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-2-1-market-research.md) - [3.2.2 Methods of Market Research](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-2-2-methods-of-market-research.md) - [3.2.3 Interpreting PED & YED](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-2-3-interpreting-ped-and-yed.md) - 3.3 Segmentation, Targeting, Positioning - [3.3.1 Segmentation](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-3-1-segmentation.md) - [3.3.2 Niche & Mass Markets](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-3-2-niche-and-mass-markets.md) - [3.3.3 Market Mapping](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-3-3-market-mapping.md) - 3.4 Using the Marketing Mix - [3.4.1 Marketing Mix](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-4-1-marketing-mix.md) - [3.4.2 Pricing Decisions & Price Skimming](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-4-2-pricing-decisions-and-price-skimming.md) - [3.4.3 Pricing Decisions & Price Penetration](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-4-3-pricing-decisions-and-price-penetration.md) - [3.4.4 Promotional Decisions](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-4-4-promotional-decisions.md) - [3.4.5 Promotional Decisions 2](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-4-5-promotional-decisions-2.md) - [3.4.6 Promotional Decisions 3](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-4-6-promotional-decisions-3.md) - [3.4.7 Distribution Decisions](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-4-7-distribution-decisions.md) - [3.4.8 Distribution Decisions 2](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-4-8-distribution-decisions-2.md) - [3.4.9 Social Media & Influencers](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-4-9-social-media-and-influencers.md) - [3.4.10 Digital Marketing](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-4-10-digital-marketing.md) - [3.4.11 Evaluating Digital Marketing](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-4-11-evaluating-digital-marketing.md) - [3.4.12 A-A* (AO3/4) - The Marketing Mix & Promotion](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-4-12-a-a-ao34-the-marketing-mix-and-promotion.md) - [3.4.13 A-A* (AO3/4) - Pricing & Competition](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/3-4-13-a-a-ao34-pricing-and-competition.md) ### 4 Operational Management - 4.1 Setting Operational Objectives - [4.1.1 Setting Operational Objectives](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-1-1-setting-operational-objectives.md) - 4.2 Analysing Operational Performance - [4.2.1 Operations Data](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-2-1-operations-data.md) - [4.2.2 Capacity](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-2-2-capacity.md) - [4.2.3 A-A* (AO3/4) - The Problem with Operations Data](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-2-3-a-a-ao34-the-problem-with-operations-data.md) - 4.3 Increasing Efficiency & Productivity - [4.3.1 Productivity & Efficiency](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-3-1-productivity-and-efficiency.md) - [4.3.2 Lean Production](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-3-2-lean-production.md) - [4.3.3 Technology & Efficiency](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-3-3-technology-and-efficiency.md) - [4.3.4 A-A* (AO3/4) - Toyota Production System](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-3-4-a-a-ao34-toyota-production-system.md) - 4.4 Improving Quality - [4.4.1 Measuring & Identifying Quality](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-4-1-measuring-and-identifying-quality.md) - [4.4.2 Total Quality Management](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-4-2-total-quality-management.md) - [4.4.3 Evaluating Total Quality Management](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-4-3-evaluating-total-quality-management.md) - [4.4.4 Quality Assurance & Quality Control](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-4-4-quality-assurance-and-quality-control.md) - 4.5 Managing Inventory & Supply Chains - [4.5.1 Inventory](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-5-1-inventory.md) - [4.5.2 Improving the Supply Chain](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-5-2-improving-the-supply-chain.md) - [4.5.3 Outsourcing](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-5-3-outsourcing.md) - 4.6 Business & The External Environment - [4.6.1 Business Considerations from Globalisation](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/4-6-1-business-considerations-from-globalisation.md) ### 5 Financial Management - 5.1 Setting Financial Objectives - [5.1.1 Setting Financial Objectives](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/5-1-1-setting-financial-objectives.md) - [5.1.2 Influences on Financial Objectives](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/5-1-2-influences-on-financial-objectives.md) - [5.1.3 Profit](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/5-1-3-profit.md) - [5.1.4 Revenue & Costs](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/5-1-4-revenue-and-costs.md) - [5.1.5 Cash-Flow & Budgets](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/5-1-5-cash-flow-and-budgets.md) - 5.2 Analysing Financial Performance - [5.2.1 Break-Even & Profitability Analysis](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/5-2-1-break-even-and-profitability-analysis.md) - [5.2.2 A-A* (AO3/4) - Assessing Financial Performance](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/5-2-2-a-a-ao34-assessing-financial-performance.md) - 5.3 Sources of Finance - [5.3.1 Internal Sources of Finance](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/5-3-1-internal-sources-of-finance.md) - [5.3.2 External Sources of Finance](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/5-3-2-external-sources-of-finance.md) - [5.3.3 Crowdfunding](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/5-3-3-crowdfunding.md) - [5.3.4 Factors for Financing](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/5-3-4-factors-for-financing.md) - [5.3.5 A/A* (AO3/4) - Debt](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/5-3-5-aa-ao34-debt.md) - 5.4 Improving Cash Flow & Profits - [5.4.1 Improving Cash Flow & Profits](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/5-4-1-improving-cash-flow-and-profits.md) ### 6 Human Resource Management - 6.1 Setting Human Resource Objectives - [6.1.1 Setting Human Resource Objectives](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-1-1-setting-human-resource-objectives.md) - [6.1.2 Human Resource Management](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-1-2-human-resource-management.md) - 6.2 Analysing Human Resource Performance - [6.2.1 Analysing Human Resource Performance](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-2-1-analysing-human-resource-performance.md) - [6.2.2 Analysing Human Resource Performance 2](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-2-2-analysing-human-resource-performance-2.md) - 6.3 Improving Org Design & Human Resource Flow - [6.3.1 Organisational Design](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-3-1-organisational-design.md) - [6.3.2 Human Resource Flow](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-3-2-human-resource-flow.md) - 6.4 Improving Motivation & Engagement - [6.4.1 Motivating & Engaging Employees](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-4-1-motivating-and-engaging-employees.md) - [6.4.2 Different Incentives](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-4-2-different-incentives.md) - [6.4.3 Evaluating Incentives](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-4-3-evaluating-incentives.md) - [6.4.4 Taylor's Theory](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-4-4-taylors-theory.md) - [6.4.5 Maslow's Theory](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-4-5-maslows-theory.md) - [6.4.6 Herzberg's Theory](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-4-6-herzbergs-theory.md) - [6.4.7 A-A* (AO3/4) - Amazon & Netflix Org Design](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-4-7-a-a-ao34-amazon-and-netflix-org-design.md) - [6.4.8 A-A* (AO3/4) - Taylorism & Jack Welch](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-4-8-a-a-ao34-taylorism-and-jack-welch.md) - 6.5 Improving Employer-Employee Relations - [6.5.1 Improving Employer-Employee Relations](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/6-5-1-improving-employer-employee-relations.md) ### 7 Strategic Position of a Business (A Level Only) - 7.1 Mission, Objectives, Strategy - [7.1.1 Business Mission & Corporate Objective](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-1-1-business-mission-and-corporate-objective.md) - [7.1.2 Mission, Corporate Objectives & Strategy](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-1-2-mission-corporate-objectives-and-strategy.md) - [7.1.3 SWOT Analysis](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-1-3-swot-analysis.md) - [7.1.4 A-A* (AO3/4) - SWOT Analysis](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-1-4-a-a-ao34-swot-analysis.md) - 7.2 Financial Ratio Analysis - [7.2.1 Financial Ratios](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-2-1-financial-ratios.md) - 7.3 Assessing Overall Performance - [7.3.1 Non-Financial Data](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-3-1-non-financial-data.md) - [7.3.2 Core Competences](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-3-2-core-competences.md) - [7.3.3 Assessing Business Performance](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-3-3-assessing-business-performance.md) - 7.4 Assessing Political & Legal Change - [7.4.1 Political & Legal Change](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-4-1-political-and-legal-change.md) - 7.5 Assessing Economic Change - [7.5.1 Economic Environment](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-5-1-economic-environment.md) - 7.6 Assessing Social & Technological Change - [7.6.1 Social & Technological Environment](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-6-1-social-and-technological-environment.md) - [7.6.2 Lifestyle & Technological Environment](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-6-2-lifestyle-and-technological-environment.md) - [7.6.3 Corporate Social Responsibility](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-6-3-corporate-social-responsibility.md) - 7.7 The Competitive Environment - [7.7.1 Choosing Areas of Competition](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-7-1-choosing-areas-of-competition.md) - [7.7.2 Choosing How to Compete](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-7-2-choosing-how-to-compete.md) - 7.8 Investment Appraisal - [7.8.1 Investment Appraisal](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/7-8-1-investment-appraisal.md) ### 8 Choosing Strategic Direction (A Level Only) - 8.1 Markets to Compete & Products to Offer - [8.1.1 Product Decisions](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/8-1-1-product-decisions.md) - 8.2 How to Compete - [8.2.1 Porter's Five Forces](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/8-2-1-porters-five-forces.md) - [8.2.2 A-A* (AO3/4) - The 5 Forces](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/8-2-2-a-a-ao34-the-5-forces.md) ### 9 Pursuing Strategies (A Level Only) - 9.1 Assessing a Change in Scale - [9.1.1 Growth & Retrenchment](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/9-1-1-growth-and-retrenchment.md) - [9.1.2 Challenges of Growth](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/9-1-2-challenges-of-growth.md) - [9.1.3 Sourcing Resources & Entering Markets](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/9-1-3-sourcing-resources-and-entering-markets.md) - [9.1.4 A-A* (AO3/4) - Diversification](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/9-1-4-a-a-ao34-diversification.md) - [9.1.5 A-A* (AO3/4) - Diseconomies of Scale](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/9-1-5-a-a-ao34-diseconomies-of-scale.md) - 9.2 Assessing Innovation - [9.2.1 Assessing Innovation](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/9-2-1-assessing-innovation.md) - 9.3 Globalisation & Internationalisation - [9.3.1 Internationalisation](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/9-3-1-internationalisation.md) - [9.3.2 Managing Internationalisation](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/9-3-2-managing-internationalisation.md) - [9.3.3 Impact of Internationalisation](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/9-3-3-impact-of-internationalisation.md) - [9.3.4 A-A* (AO3/4) - Internationalisation in Guatemala](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/9-3-4-a-a-ao34-internationalisation-in-guatemala.md) - 9.4 Greater Use of Digital Technology - [9.4.1 Assessing Use of Digital Technology](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/9-4-1-assessing-use-of-digital-technology.md) - [9.4.2 Impact of Digital Technology](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/9-4-2-impact-of-digital-technology.md) ### 10 Managing Strategic Change - 10.1 Managing Change - [10.1.1 Managing Change](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/10-1-1-managing-change.md) - 10.2 Managing Organisational Culture - [10.2.1 Managing Organisational Culture](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/10-2-1-managing-organisational-culture.md) - [10.2.2 Organisational Structures](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/10-2-2-organisational-structures.md) - 10.3 Managing Strategic Implementation - [10.3.1 Managing Strategic Implementation](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/10-3-1-managing-strategic-implementation.md) - 10.4 Problems with Strategy & Why They Fail - [10.4.1 Problems with Strategy](https://senecalearning.com/en-gb/revision-notes/a-level/business/aqa/10-4-1-problems-with-strategy.md)