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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 the difference between planning and decision making?
Decision making is required during planning but planning is forming a plan before doing. Decision making is required while doing because unplanned things happen.
Why Managers should know about research?
for proper planning and decision making.
Importance of decision making?
The importance of decision making is that it helps in planning for the next course of action. In business, good decisions will yield great returns on investment.
What is the purpose of planning control and decision making?
structure the organization for effective goal attainment
What is relationship of between planning and decision making?
what is the relationship between decision making and planning.?
Are sunk costs ever relevant for decision-making purposes?
NO, its cost which was wasted in past we can not recover it so it is not relevant for decision making.
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.
Why is decision making relevant to ones health?
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What is the difference between relevant cost and irrelevant cost?
Relevant cost is that cost which is required for the specific decision making process or the cost which will be change due to specific decision while irrelevant cost has no concern with decision making or any specific decision.
What is pre- planning stageof educational planning?
The pre-planning stage of educational planning involves gathering data, assessing needs, setting goals, and determining priorities before the actual planning process begins. This stage helps to clarify the purpose and scope of the planning effort and ensures that relevant information is available to inform decision-making.
The most relevant costs that should be used in decision making are?
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What is the distinction between relevant cost and irrelevant cost?
Relevant cost is that cost which is necessary for the underlying decision in decision making process while irrelevant cost is not necessary to be decision to be made.
What is the difference between planning and decision making?
Decision making is required during planning but planning is forming a plan before doing. Decision making is required while doing because unplanned things happen.
Are all future cost are relevant in decision making?
Future costs are relevant in decision making if the decision will affect their amounts. For example, suppose you're trying to decide whether to drive to work or take the bus. Relevant future costs information includes (1) the cost of gasoline and tolls needed to drive to and from work and (2) the cost of bus fare because both of these costs depend on your decision. However, future costs that won't change - such next month's rent on your apartment - are not relevant because, regardless of your decision, they will not change. Note that past costs are never relevant in decision making.
All future costs are relevant in decision making?
Future costs are relevant in decision making if the decision will affect their amounts. For example, suppose you're trying to decide whether to drive to work or take the bus. Relevant future costs information includes (1) the cost of gasoline and tolls needed to drive to and from work and (2) the cost of bus fare because both of these costs depend on your decision. However, future costs that won't change - such next month's rent on your apartment - are not relevant because, regardless of your decision, they will not change. Note that past costs are never relevant in decision making.
Why Managers should know about research?
for proper planning and decision making.
