Need a paragraph and examples to answer the following:

Decision Making: Post comments and explain, with examples, how decision making and analysis, with the tools from our course, may be of value to you and your future endeavors. Include specific examples such as a company seeking to increase profits would ....

Thank you,

Below is one of the examples on how a student answers:

This course has given me first hand experience with some of the common methods used for decision-making and analysis. For instance, budgets, differential, vertical and horizontal analysis methods are all tools which are commonly used within the business world.

Budgets are a universal tool used within all organization regardless of whether or not they are for profit. As we have seen, based on the text, budgets can be used at many different levels within an organization. The budget is a great guide post for performance metrics. A budget allows management to see forecasted (expected) goals compared to actual performance. It allows management to quickly identify areas of success or opportunity.

For strategic purposes, the differential analysis tool is particularly effective. With the differential analysis, management has a formalized approach to weighing cost and benefit of a given project. Specifically, a manager can determine whether or not purchasing new equipment or making an investment, would be profitable for their business.

For internal, trend analysis, the vertical and horizontal analysis methods are a great resource for managers. These methods allow for organizations to determine which metrics are either growing/declining most year-over-year. Or they may help identify a distribution of cost verses profit. Regardless, of what the metric is, these tools create a clear picture for management to either proceed with business as usual or for the possibility of adapting a new strategy.