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What makes a decision strategic?
what make adecision strategic
What is internal transaction cost and external transaction cost?
Internal transaction costs refer to expenses incurred within an organization when managing and coordinating its own resources, such as administrative overhead, communication, and decision-making processes. External transaction costs, on the other hand, arise from interactions with outside parties, including costs related to contracts, negotiations, and market transactions. Together, these costs influence a firm's operational efficiency and decision-making regarding outsourcing versus in-house production. Understanding both types of costs is crucial for optimizing resource allocation and strategic planning.
Example in Administrative law?
An example of administrative law can be seen in the process of obtaining a building permit from a local zoning board. Administrative law governs the procedures and actions of governmental agencies, ensuring that they operate within the law while making decisions that affect individuals and businesses. If a resident believes their permit application was wrongly denied, they can appeal the decision through an administrative hearing, where the agency's decision is reviewed based on the relevant regulations and evidence presented. This illustrates how administrative law provides a framework for accountability and due process in governmental decision-making.
What types of decision-making and strategic information should the AIS provide in expenditure cycle?
In the expenditure cycle, an Accounting Information System (AIS) should provide decision-making and strategic information such as budget variance reports, supplier performance analytics, and cash flow forecasts. These insights help managers evaluate spending efficiency, assess supplier reliability, and make informed purchasing decisions. Additionally, the AIS should facilitate tracking of expenditures against budgets to ensure compliance and identify areas for cost reduction. Overall, timely and accurate data supports strategic planning and enhances operational efficiency.
Which matrix is included in the decision stage of the strategy formulation framework?
Quantitative Strategic Planning Matrix
What are the levels of MIS?
The levels of Management Information Systems (MIS) are operational, tactical, and strategic. Operational MIS supports daily decision-making at the operational level, tactical MIS aids middle management in short-term planning and decision-making, and strategic MIS assists top management with long-term strategic planning and decision-making.
What are the strategic business objectives that are impacted by information systems?
operational excellence, competitive advantage, survival, improved decision makinh
Which type of decision making depend on real time a. strategic b. tactical c. operational d. nonprogrammable?
tactical
Explain the differences between strategic planning and operational planning?
Strategic planning is deciding what a company will do. Operational planiing is deciding how that will be done. For example, Kodak made a strategic decision to enter the digital photography business when the tradition film market began to deteriorate. They decided what products offered opportunities in that industry. Then, they had to formulate an operational plan - product development, manufacturing process and location, etc. The operational plan will also include some strategic planning. For example, the Marketing department had to decide how to best position the products in the marketplace (and which markets or locations) and then plan how to design the marketing materials.
What are two types of decision points?
Two types of decision points are strategic decision points and operational decision points. Strategic decision points involve long-term planning and high-level decisions that impact the overall direction of an organization, such as entering a new market or launching a new product. In contrast, operational decision points are related to day-to-day operations and focus on short-term issues, like resource allocation or scheduling. Both types are crucial for effective management and achieving organizational goals.
What is the Difference between administrator officer and administrator assistant?
An administrator officer typically holds a more senior position, often responsible for overseeing administrative functions, managing staff, and implementing policies within an organization. In contrast, an administrator assistant generally supports the administrative team by performing tasks such as scheduling, communication, and document management. While both roles are vital for organizational efficiency, the officer role usually involves greater decision-making authority and strategic planning, whereas the assistant role focuses on operational support.
What is an administrative review and how does it impact the decision-making process within an organization?
An administrative review is a formal evaluation process conducted within an organization to assess the effectiveness and efficiency of its administrative functions. It impacts the decision-making process by providing insights and recommendations for improving operational procedures, resource allocation, and overall performance. This helps the organization make informed decisions to enhance productivity and achieve its goals.
What is an administrative man model?
It is a phase of administrative behavior studies and the decision making process. The types are divided into economy and administrative. The administrative man allegedly describes how decision is performed in reality.
Differences between strategic and operations management?
operational management involves day to day management of the organisation while strategic management involves the overall management of an organisation which includes making a decision that affect the business over a long time.
What are the three levels in an army?
The three levels in an army are strategic, operational, and tactical. Strategic level involves high-level decision making and long-term planning. Operational level focuses on coordinating and executing missions and campaigns. Tactical level involves direct combat and engagement with enemy forces on the ground.
What are the most relevant differences between operational data and decision support data?
Operational data is used to run day-to-day business operations and is typically structured, detailed, and transactional. Decision support data, on the other hand, is used to analyze trends, patterns, and make strategic decisions. Decision support data is often aggregated, summarized, and historical.
Why operational system not suitable for providing strategic information?
Operational systems are primarily designed for day-to-day transactions and routine tasks, focusing on efficiency and accuracy rather than strategic analysis. They store detailed, real-time data that lacks the aggregated and historical context needed for strategic decision-making. Additionally, operational systems often provide limited reporting capabilities, making it challenging to extract insights that inform long-term planning and strategy. Consequently, organizations typically rely on specialized systems, like data warehouses or business intelligence tools, for strategic information.
