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Why and how the dual problem can be useful in management decision making?
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How can management accounts be useful for decision making?
Because Management Account is useful for the future and may be use for any business currency.
What do you mean by Decesion Making as a key step in planning?
Decision making is the main task of the management function i.e. planning. without the decision making it is very tough to decide what to do and where is to do. Planning is just a blueprint of the future planning but decision making is not very easy task it is very wide in itself. In case of the lack of the decision making it is not possible to fulfill your planning. for the accomplished of the desire outputs perfect decision making is very necessary. In short, decision making is the primary function of the planning as well as useful for the maintain management.
What is quantitative approach?
A quantitative approach is always dealing with a quantity or numbers of some sort to prove a point. With the use of quantitative approach we improve our decision making power. It is especially useful in planning and control.
Scope of managerial research in research methodology?
Managerial economics may be viewed as economics applied to problem solving at the levels of the firm. The problem relates to choices and allocation of resources, which are basically economic in nature and are faced by managers all the time. Managerial research is also known as operations research. It was undertaken for the first time in Second World War in America. It is also interdisciplinary research done by mathematicians, tacticians, Engineers and other Scientists. The operation researchers developed concepts of linear programming, inventory models and game theory. They attempted to attain optimization. The framework of optimization has been used a great deal in managerial economics. The operation research has influenced managerial economics through its new concepts and models for dealing risk and uncertainly. Managerial economics it primarily an aid to analyse and decision making in the context of the firm. But in the management more than decision making, the implementation, control and conflict resolutions are also covered. Managerial research is concerned with decision making at the managerial level it considers the alternative theories of firm behaviour, decision making problems and different approaches to arrive at the most appropriate answers to such problems. It draws heavily from Microeconomics, Econometrics and operation research. The decision making area is related to the production decisions, the exchange decisions and consumption decisions. The case study method is useful in managerial research. It helps us to look for and organised the data and evidence relevant to the problem at hand. A manager does not get all data he needs well organised and presented to him on a platter. The cases may bring out the complexity of the environment in which managers have to take decisions.
What is importance of Database Management?
database is collection of table...i.e it is collection of record or data.it is more useful than file management system....
How can management accounts be useful for decision making?
Because Management Account is useful for the future and may be use for any business currency.
What do you mean by Decesion Making as a key step in planning?
Decision making is the main task of the management function i.e. planning. without the decision making it is very tough to decide what to do and where is to do. Planning is just a blueprint of the future planning but decision making is not very easy task it is very wide in itself. In case of the lack of the decision making it is not possible to fulfill your planning. for the accomplished of the desire outputs perfect decision making is very necessary. In short, decision making is the primary function of the planning as well as useful for the maintain management.
Which tools of management accounting is useful to check the solvency of company?
decision accounting
Why management information system useful to corporate business?
Because one of the references needed in decision making, may it be; to expand, to improve, to acquire, to drop or to position, is: accurate and reliable information.
What is thinking of your thinking?
Thinking about your thinking refers to metacognition - the ability to reflect on and be aware of your own thoughts. It involves monitoring and controlling your cognitive processes, such as problem-solving or decision-making. This self-awareness can enhance learning, problem-solving, and overall cognitive performance.
What is selling management style and when should we use this management style?
useful in teams where decision dont come easy when tea members try to establish themselves
During which step of the decision-making process is it useful to use qualitative skills?
All of the above
Two primary qualities that make accounting information useful for decision making are?
One quality that makes accounting good for decision making is the fact that it is reliable. Another reason accounting is good for decision making is the fact that the numbers have to be consistent, so it is easy to interpret.
Marginal costing is useful in?
Marginal costing is one of the technique of costing and is usefull for the decision making process. As in decision making process decision are always made for the future activities and not for past activities so if exept marginal costing any other costing method for example absorption costing method is used then there is a chance of making wrong decisions as in future decision making past decision and past data is not relevent for decision making.
What is a scrum used for?
Scrum is an iterative method of product development and project management. Scrum methodology is highly useful in projects which involve uncertainty. Its approach to planning and managing projects is by bringing decision-making authority to the level of operation properties and certainties useful link: http://www.scrum-master.info
What are the topics covered in management accounting?
Objective: This course aims at introducing the student to how useful accounting information is prepared, and how it is effectively used, for the purpose of decision-making.Course content: Overview and introduction to management accounting Cost Concepts, Classifications, Terminology and behavior, Job costing and Activity Based Costing, inventory Costing and Capacity Analysis, Cost-Volume-Profit Analysis, Short-term Decision-Making and Relevant Costing, Long-term Decision Making, Pricing Decisions, Master Budget and Flexible Budgeting and variance analysis.
What is quantitative management?
Quantitative management is the use of math to solve problems. It is important to collect information about a problem and solutions to create a useful mathematical model.
