Creative Thinking & Decision-Making Tools in Business

What method helps in making decisions based on advantages and disadvantages?

Pros and Cons analysis.

What is a Decision Tree used for?

To help decision makers look at multiple options and consider their outcomes.

What is the goal of Value Chain Analysis?

To add value to the customer.

What does PE^2STLE stand for in analysis?

Political, Economic, Ethical, Social, Technology, Legal, Environment.

What is the purpose of a SWOT analysis?

To evaluate both the internal and external environment of a business.

What is the Delphi Technique used for?

To gather expert opinions anonymously.

What does the Resource-based Approach focus on?

Identifying which resources provide a competitive advantage and maintaining them.

What does the Balanced Scorecard describe?

Key outcomes that a business evaluates to improve performance.