Course name: Spreadsheet Decision Modeling

Question:

Describe how business managers can use optimization of network models for organizational effectiveness related to decision making, problem-solving, and general operational performance effectiveness.

Answer:

Business optimization is the process of identifying and implementing new methods that make the business more efficient and cost effective. Examples of business optimization include:

Introducing new methods, practices and systems that reduce turnaround time

Reducing costs while improving performance

Automation of repetitive tasks

Machine-learning techniques that improve equipment operation

Increasing sales through enhancing customer satisfaction

Reducing all kinds of waste such as wasted time, scrap production and repeat work.

Key elements of business optimization include:

Measurement of productivity, efficiency and performance

Identifying areas for improvement

Introducing new methods and processes

Measuring and comparing results

Repeating the cycle

Business managers can use the decision analysis for achieving organizational goals and effectiveness particularly problem-solving performance effectiveness, and better decision making.Those Managers can investigate the effect of past dynamic and their outcomes and identify with the result that the decisions had made on the organization likewise examining the effect or advantage by it in this manner understanding concerning what turned out badly or what should be improved.And Decision-making gives the manager the knowledge of their own decisions and their effectiveness. It provides them guidance for future strategies that they can take.Thats helps them with relieving any risk as analysis would empower them to address their way to deal with any issue which in any case would not have settled and bring a more hearty strategy towards improving the performance.

Requirements:

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