StudentShare solutions
Got a tricky question? Receive an answer from students like you! Try us!

Essay example - DecisionMaking

Only on StudentShare
Masters
Essay
Miscellaneous
Pages 8 (2008 words)
The process of choosing the best alternatives whether it is short term or long term is known as decision making (McWatters, 2008). A manager's main aim is to reduce the cost of the corporation and increase its surplus through his expertise. A manager is fully equipped with all the relevant tools to mitigate the cost and enhance the bottom line…

Extract of sample

Generally, decision making consists of the following six steps (Glynn,
Before taking the final decision, managers need to get an idea about the effectiveness of the course of action or remedy they intend to apply on a particular problem, so a post decision evaluation via feedback can be worth while.
In the managerial decision making process, the management accountants play a decisive role although they neither indulge in making nor in implementing the final decision, the management accountant is held responsible for providing the information at each of the six stages mentioned above. Management is not concerned about how and from what procedures an accountant uses in his analysis and evaluation; eventually the main concern of the management is the information regarding the problems and on the basis of this information, management reaches on a decision (Steffan, 2008).
Management accountant is responsible to elaborate the management that the data that is been taken is relevant to provide the information. Relevant data are the single most important ingredient in decision making (Drury, 2007). ...
Download paper
Not exactly what you need?

Related papers

Ethical Dilemma: Cancer and pregnancy
Among many prominent theories in the field of ethics and behaviours, the theory of utilitarianism plays an important role. In a series of influential essays, Renee Fox (1989, 1990, Fox & Swazey 1984), the follower of the utilitarianism theory, has argued that the "ethos" of medical ethics has been dominated by an analytic individualism, organized around the value of "autonomy," that assigns…
9 pages (2259 words)
Topic CRITICAL REFLECTION AND DECISIONMAKING REPORT RELATED TO THE UTILISATION OF EVIDENCE.
Therefore, it is a necessity on the part of the nurse to review appropriate research in the area to check if her approach to that particular clinical problem is appropriate, effective, and ethical. In this assignment, I will present my critical thinking and reflective practice on the issue of use of restraint on patients, which I encountered in my practice based on analysis of evidence as…
5 pages (1255 words)
Yellow fever. Development of vaccine.
Yellow fever has been a cause of life threatening epidemics throughout the last few hundreds of years of human civilization. It is believed to have originated in Africa and transported to the western hemisphere through the slave trade with the first reported outbreak being in Yucatan in 1648.The ensuing years reported a number of outbreaks in the Americas and Europe. 2 The disease remained an…
5 pages (1255 words)
Ethical Decisionmaking and High Technology
Activities and behaviors causing these losses vary and include criminal activities such as hacking into systems, fraud and theft (Kreie and Cronan, 1999). Monetary losses to businesses are estimated to be in excess of billions of dollars annually and, too often, these misuses are carried out by the company's own employees. Reportedly, up to 80% of bandwidth use at some workplaces is due to…
5 pages (1255 words)
Paternalistic decisionmaking
However, this is theory only. For numerous reasons this specific business culture is severely criticized by market analysts, shareholders and psychologists who point to its economic and moral deficiencies. In general, paternalistic decision-making is highly ineffective and there are only very few exceptions that only confirm the rule.…
4 pages (1004 words)
Yellow fever
Yellow fever is a viral hemorrhagic disease that is mosquito borne. The virus belongs to the family of flavi virus and is a positive sense single stranded RNA virus which is about 50-60 nm in diameter. Infected mosquitoes transmit the virus through its saliva and the viral replication happens in regional lymph nodes and skin.Entering through receptor-mediated endocytosis the virus synthesizes RNA…
2 pages (502 words)