Understanding fundamental and means objectives are important

Understanding fundamental and means objectives are important to decision analysis and decision making. As your business has grown, you are evaluating moving your company to a larger office closer to several of your key customers and are looking at several different alternatives.

i. Identify your fundamental objectives.

ii. How would those objectives be used in the decision-making process?

iii. Identify your means objectives.

iv. How would the means objectives be used in the decision-making process?

Solution

i. Identify your fundamental objectives.

The fundamental objective is the maximization of the profits of the company and reducing the cost.

ii. How would those objectives be used in the decision-making process?

These objectives will be used to analyze the alternative which will have maximum profit and at the same time also will reduce the cost.

iii. Identify your means objectives.

The means objective will be to facilititate the key customers and attract potential customers.

iv. How would the means objectives be used in the decision-making process?

The means objective would be used to choose an alternative which will facilitate large number of key customers and will have the chance to attract more and more potential customers.