Flashcards: Mastering Critical Thinking and Evidence-Based Decision Making — 20 cards

Critical thinking — importance?

Analyzes info objectively in today's data-rich environment.

Evidence-based analysis — focus?

Uses verifiable facts to understand issues thoroughly.

Decision-making — how improved?

By applying rational analysis and structured processes.

Project management — fundamental?

Planning, executing, controlling projects effectively.

CRM — role?

Manages customer relationships and supports sales.

Initial specs — purpose?

Sets project requirements at the start.

Final deliverable — varies how?

Due to uncertainties and unforeseen changes.

ROI — formula?

Net profit divided by investment cost, times 100.

OPEX — example?

Salaries, utilities, leasing costs.

CAPEX — example?

Machinery, buildings, long-term assets.

EBIT — definition?

Profit from core operations before interest and taxes.

EBITDA — excludes?

Interest, taxes, depreciation, amortization.

Gross margin — measures?

Efficiency in production and sales.

Fixed costs — example?

Rent, salaries that don't vary with output.

Variable costs — example?

Materials, direct labor that change with production.

Time value of money — principle?

Money today is worth more than future money.

Discounting — purpose?

Converts future cash flows to present value.

ROI — significance?

Assesses investment efficiency and profitability.

Amortization — method?

Spreads asset costs over useful life, linear or degressive.

Stakeholders — role?

Affected or involved in a project, needs management.