Question

(6)
Q32. On the introduction of the Goods and Services Tax Act, experts in the
field of business started analyzing and forecasting its impact on various
sectors and industries. Vansh, an established businessman, attended a
few seminars and conferences organised by such experts to familiarize
himself with this information. He wanted to use these forecasts to
reduce the uncertainty in making decisions for the future in his
business.
(a)Name and explain the step in the planning process that is being
discussed in the above paragraph.
(b)Also explain the next four steps which will have to be carried out to
complete the process.
OR​

Answer 1

Answer:

System Dynamics (SD) is a widely used methodology to study complex feedback structures using computer simulation models. ... These effects are analysed by measuring the change in mental models of decision makers (1) as the level of decision aid is increased and (2) as the complexity of the model is increased.......