The process of , or identifying problems and opportunities and then resolving them, involves effort both before and after choosi
ng a course of action. You are a senior manager, and you are mentoring a new manager. You want to emphasize to the new manager that being effective in his job will depend on sound decision making. What reasons will you give? a. Managerial decisions are made in isolation from one another, so every decision must be correct.
b. Decisions determine whether the organization allocates resources effectively.
c. Ultimately, whether the organization meets its goals depends on a series of many decisions.
d. Decision making determines how the organization solves problems.
The correct answer is d. Decision making determines how the organization solves problems.
Explanation:
Decision making. It is the process through which one or more decisions are obtained as a result with the purpose of solving a situation. One or more actors can participate and you can choose between several alternatives.
The five most important characteristics in decision making are:
Future effects: It has to do with the extent to which the commitments related to the decision affect the future. A decision that has a long-term influence can be considered a high-level decision, while a decision with short-term effects can be taken at a much lower level.
Reversibility: Refers to the speed with which a decision can be reversed and the difficulty of making this change. If reversing is difficult, it is recommended to make the decision at a high level but if reversing is easy it is required to make the decision at a low level.
Impact: This feature refers to the extent to which other areas or activities are affected. If the impact is extensive it is indicated to make the decision at a high level, a single impact is associated with a decision taken at a low level.
Quality: This factor refers to labor relations, ethical values, legal considerations, basic principles of conduct, company image, etc. If many of these factors are involved, it is required to make the decision at a high level, if only a few factors are relevant it is recommended to make the decision at a low level.
Periodicity: This element answers the question of whether a decision is made frequently or exceptionally: An exceptional decision is a high level decision, while a decision that is made frequently is a low level decision.
Structure: This determines whether the decision is scheduled, usually the programmed decisions are defined and require little analysis, are short-term, very reversible and their complexity is less, while unscheduled decisions are random, require further analysis and are of Long term, irreversible and more complex.
d. The skill level of workers is identical in both countries.
Explanation:
The Law of One Price is an economic theory which explains that the price of identical or similar goods in different markets must be the same after taking the currency exchange into consideration. In law of one price, there is perfect competition and It ensures that buyers have the same purchasing power across global markets.
A loan is where you ask for money and then pay it back later. This is like a credit card since you can buy things and then pay the credit card bill at the end of the month.
1. Look for her toys in her toy chest. She didn’t even know that her brother hid her toys in the first place, so she’ll look for her toys in her toy chest, assuming she wants to play with them after dinner. Hope this helps!
In the case when the tax burden increased so the role of the auditor is to audit the financial statements of the company and based on this they given the opinion that could be either favorable or unfavorable also they look into the operational effectiveness and efficiency but the role of the auditor is not increasingly important as for the tax purpose the tax accountant should be considered such as Chartered accountant, etc
