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Why is it important that decision makers in a corporation know the cost function for producing the companies' products?
Wiki User
∙ 13y ago
Decision makers should know a product's cost function if their decisions affect the amount of product produced. To know the cost impact of their decisions, decision makers apply the cost function to each possible volume of production. This is important in many decisions, such as pricing decisions, promotion and advertising decisions, sales staff deployment decisions, and many more decisions that affect the volume of product that the company produces.
Wiki User
∙ 13y ago
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What is the primary purpose of financial accounting?
Accounting is a system of maintaining records of a companies operations and communicating that information to decision makers.
Which costs is often important in decision making but is omitted from conventional accounting records?
opportunity cost
What is are consistent with recent efforts by companies to reduce costs cut overhead speed up decision making increase flexibility get closer to customers and empower employees?
Wider spans of control are consistent with recent efforts by companies to reduce costs cut overhead speed up decision making increase flexibility get closer to customers and empower employees. Wider spans of control has been the trend of recent years.
What is the impact of allocating common costs for internal decision making?
When companies choose to allocate costs they have to consider how those costs will impact the final cost of their products and services. If they allocate them incorrectly, then the final product may be over or under priced, which will negatively impact internal decision making.
What payment processing company should you use for your business?
While the ultimate decision belongs to you, there are a multitude of companies available online. You can visit them and punch in key points of your business to find the company that is best for you.
Financial decision of household and corporation?
financial ecision of household and corporation
What is the duty of loyalty?
Prohibits making a decision that benefits the decision-maker at the expense of the corporation.
What is duty of loyalty?
Prohibits making a decision that benefits the decision-maker at the expense of the corporation.
How can a decision maker identify strategic factors in a corporation external environment?
NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?
How can a decision maker identify strategic factors in a corporation's external environment?
NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?
How can a decision maker identify strategic factors in the corporation's external environment?
NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?
What are the disadvantage of a corporation?
slowness of the decision-making process
The business decision's of a corporation are made by whom?
A board of directors
Do local companies handle investment management as good as online companies can?
Local companies provide the one on one interaction and guidance that you will not get from online companies. Using the computer, you can do additional research without feeling pressured to make such an important decision, and you can take your time in making this decision. The link below can provide you with more information. pages.stern.nyu.edu/~adamodar/New_Home.../invmg.htm
How has technology improved companies in decision making?
technology has improved companies in decision making because the internet has programs that inform you on information in the making the right decision process
Where company used the decision support system?
Companies use decision support system when solving problems or making important decisions. A DSS is used to compile data, knowledge and documents in order to make informed decisions.
What are some good types of limited liability corporation?
A good limited liability corpaoration would be one that is liscensed and insured. Read all customer reveiws on different companies that you can to help in the decision as this is a relatively new legal service.
