Many have wondered how they could ensure that they make the right decisions, not only in business but also in life. It is said that it is better to make a wrong decision than to stay without making any. Proper decision making is one of the qualities of a good business manager. Sometimes one is faced with multiple decisions that you may end up making a decision by not making a decision. As a manager, one of the most important aspects is to decide on what must be done now. In other words, first things first. But this can not be done if you do not know what you must decide on. This calls you to fist decide what issue you want to resolve and come up with a tentative solution. This solution can be tabled to the management team as an eye opener to the final solution.
As you make a tentative solution, make sure you have considered the consequences of such actions if the solution is fully adapted. Remember that even after a decision has been passed, its effects will continue to be felt long after it. Here, one must note that some decisions are so crucial that invalidating them later adversely affect your business. For example, deciding to change a brand name that has already been known in the market may not work well for your business.
Every time you have made a decision, make sure that you have compared such decisions with what other people consider to be right. remember that you are not an angel. You can not always be right; you need other people and their opinions. If you find that you decisions strongly disagree with the beliefs, goals and dreams, be careful. It may mean that you are in a wrong path.
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What is the job outlook for Business Management & administration major?How is the job outlook for someone with a bachelors or masters degree in Business management & administration? Should I pick that as my major? Will i find a job with good pay? I am a senior in High School right now.
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I will answer this question presuming that its for a start up business:
1. Availability of finances.
2. Viability of project.
3. Availability of technology & sustainable market.
4. Availability of raw materials/ resources & manpower.
5. Manageability of various issues related to day to day functioning of the business.
6. Our own motivation in running the business.
This is excellent presentation for executive MBA students. I really enjoyed this video
Can I afford it now. (cash flow)
What is the rate of return (will the project/item/machinery become something that will generate cash flow)
What is the expected life of the (project/item/machine)?
Will this affect current production or services and if so in a favorable or unfavorable way
Will this affect the community (Toxins, radiation, pollution)
Will this affect the ability to retain or hire more employees?
Is this a thing that will go out dated rather quickly or have a long life.
What is the learning curve, the process involvement, the demands of production in using the above project, item or machine.
What type of proplems will this create. Space to store unfinished product or finished product.
Will the current structure hold the equipment. or are their other costs involved.
Basically I look at direct costs, indirect costs, break even point, community needs. return on investment, increased revenue that is expected and increased costs.
On the personal side I want to know if it is good for the neighborhood, or will it become a deterent to the neighborhood and finally I look the employment factor.
Shareholders don't necessarily have any knowledge of running any business, & often little knowledge of the type of business that they have invested in. Decision making is made by those that are involved in the day to day running of the business, that is not the shareholders, unless they are directors or employees also.
The International Accounting standard Board state the following are
essential in an annual report
1.Directors’ report
Principle activities
Review of the business
Results for the year
Research and development
Future development
Directors
Share Capital
Health and safety Act
Auditors
2.Auditors’ report
3.Financial statements
Balance sheet
Profit and loss account
Cash flow statement
Accounting policies
Notes to the financial statements
the following may be included:
Chairman’s statement
Operating and financial review
Details of Group Companies
Statement on Going concern
Statement of Compliance
Statement of Directors responsibilities
Financial highlights and summaries
thats kind of a vague & vast question. but, i think ethics & the law always should be part of the formula. i keep it pretty simple i guess, i dont really have five, i do have other values but i think if its legal, ethical & profitable, then go for it.
1. Ms. Arnett made her decision to "cover up" these unfortunate cases because publicity about these cases would hurt sales of Kafluk. It could even destroy the entire company.
2. If Kafluk prevented 50 deaths at the cost of 6 suicides, the cost for saving those 50 lives would still not be worth the price that the 6 suicides cost. At least in our society, we place a much higher value on human health. For instance, the Food & Drug Administration requires that serious side effects not occur more than 1 in 10,000 patients.