P&I plc is a cookware manufacturing company, operating in the UK and some parts of the Europe. Currently, some of their productions such as stainless steel pots and energy-saving clay pots have been outsourced due to lack of available resources. However, strategic management of P&I plc is looking to invest in a project manufacturing stainless steel pots OR energy-saving clay pots. They have called new business proposals and have finally, chosen two projects using managers' discretion to make final decision. Initial investment required for project A (stainless steel pots) is £90,000 and for project B (energy-saving clay pots) is £95,000. The discount rate required is at 14%. The net cash flows for two projects can be summarised as below: Year Project A - Stainless steel pots Net cash flow £ Project B - Energy-saving clay pots Net cash flow £ 1 35,000 28,000 2 45,000 44,000 3 68,000 72,000 4 79,000 98,000 5 105,000 110,000 You are required to write an essay on business decision making, comparing the key aspects of the payback period and Net Present Value (NPV), and financial and non-financial factors used to aid decision making