Businesses produce revenue through selling their products to customers. Businesses can acquire these products through two methods--either producing them in-house or purchasing them from manufacturers. Choosing between these two methods is called the make-or-buy decision, or the outsourcing decision. Factors that influence the make-or-buy decision include both quantitative factors such as cost and time and qualitative factors such as the suppliers' trustworthiness and the quality of their products. Businesses should first conduct an analysis of quantitative factors before factoring in qualitative factors to complete their make-or-buy decisions.
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Would qualitative factors ever outweigh quantitative factors in decision making?How might the consideration of qualitative factors improve decisions made by managers? Answer: Qualitative factors may outweigh the quantitative factors in making a decision. For example, assume management at Best Boards, Inc., believes there will be a decline in the market for wakeboards after next year.
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Which of the following qualitative factors favors the buy choice in a make or buy decision?
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