IP 2 Essay Example | Topics and Well Written Essays - 500 words

IP 2 - Essay Example Then, it is time to find out the people or place from where the information can be collected. Thereafter, the information can be collected. At the next stage, the fears, expectations, merits, and limits in each point of view are analyzed (Stages in decision making). An assumption can be considered as a statement that one considers as true but without any concrete evidence to support it. In the business world, it is necessary for companies to make assumptions in a number of different situations. For example, companies will make assumptions on the amount of pension that will be paid to the retirees in future as a part of making financial statements. In addition, we make many assumptions in everyday life too. For example, one driving on the road assumes that all other drivers will obey traffic rules, and that all will stop at red light. As Adamson (2010) points out, there are many other common assumptions made by companies in their day to day functioning. For example, one company assume s that the economic situation will be back to normal soon. Another might assume that the changes in the market are temporary. In addition, another company assumes that what their clients want is the product A. Another assumption is that the company has to invest in the field.