Mr Chopra is the CEO of Tasty packaged Foods. They manufacture various products like potato fries, samosas etc. Post covid, the company is under revenue pressure due to the reduced demand for packaged...

1. Mr Chopra is the CEO of Tasty packaged Foods. They manufacture various products like potato fries, samosas etc. Post covid, the company is under revenue pressure due to the reduced demand for packaged food. Like every other business, the short term decision making process in this business is also a process of selecting the best amongst various alternatives considering the cost benefit factors and impact on overall profitability of the firm. These could involve accepting or rejecting a special order, making or buying decisions, product mix decisions etc. These decisions require different analysis like Contribution margin analysis, relevant and irrelevant cost analysis.

Please describe any 3 of these short term decision strategies with salient features.