Decision making framework for managers : Profit by forecasting, costs and price management

University essay from Högskolan i Jönköping/JTH, Industriell organisation och produktion; Högskolan i Jönköping/JTH, Industriell organisation och produktion

Abstract:

Forecasting, cost management and pricing policies are topics which have beenwidely investigated over time. Due to a lack of scientific research about therelationships between each of those subjects, these methods have beeninvestigated in combination with their outcomes. The purpose of this work was todevelop a framework which can be used by managers who want to make adecision in either of the subjects mentioned before. By the use of a qualitative, interpretive research design, a literature review was performed which led to some interesting findings. Generally, it can be said that the methods are not related directly, although the outcomes are linked and can often be used as a criterion for the decision making process for the other methods.

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