Answer the following questions:

Answer the following questions:

Describe the benefits of business models.
Define the characteristic of well-structured problems and Ill-structured problems with one example each.
Instructions:
All answered must be typed using Times New Roman (size 12, double-spaced) font.
You are required to include at least FOUR scholarly references in your answer APA style
Avoid plagiarism (<3%)the work should be in your own words
Learning outcomes:

1.Enable the students to find some structured ways of dealing with complex managerial decision problems. (CLO1)

2.Introduce students to simple decision models and management science ideas that provide powerful and (often surprising) qualitative insights about a large spectrum of managerial problems. (CLO2)

3.Provide students with tools for deciding when and which decision models to use for the specific problems. (CLO3)

4.Give the students a feel for the kinds of problems that can be tackled using spreadsheet modeling and decision analysis. (CLO4)

5.Provide the students with more powerful ways of using spreadsheets which will be a ubiquitous tool in their managerial careers. (CLO5)