All categories

3 years ago

it is often said that managers often make decisions without all the necessary information. Why is this so?

1 answer:

8 0

Managers usually make decisions without all the necessary information because they are not aware of the alternatives that they've and aren't able to predict the consequences of the decision.

In management, decision-making is vital. Decision-making is important in the planning process. During planning, the manager decides on the goals that an organization wants to pursue.

In certain cases, a manager may not have all the required information regarding a particular issue but despite that still makes such decisions. Also, there are some decisions that require urgent attention, and delaying such decisions can further complicate such issues.

Read related link on:

brainly.com/question/9075718

You might be interested in

Hubert lives in San Francisco and runs a business that sells boats. In an average year, he receives $842,000 from selling boats.

aev [14]

Answer:

Explicit costs are normal costs of operating a business.

Implicit costs are opportunity costs meaning that they are the benefits foregone by engaging in a certain course of action.

The wholesale cost for the pianos that Hubert pays the manufacturer ⇒ EXPLICIT COST.

The salary Hubert could earn if he worked as an accountant ⇒ IMPLICIT COST.

The wages and utility bills that Hubert pays ⇒ EXPLICIT COST

The rental income Hubert could receive if he chose to rent out his showroom. ⇒ IMPLICIT COSTS

Accounting Profit = Revenue - Explicit costs

= 842,000 - 452,000 - 301,000

= $89,000

Economic Profit = Revenue - Explicit costs - Implicit costs

= 842,000 - 452,000 - 301,000 - 38,000 - 48,000

= $3,000

If Hubert's goal is to maximize his economic profit, he should stay in the piano business because the economic profit he would earn as an accountant would be -$3,000.

Economic profit as accountant = Salary + rental income - accounting profit from piano

= 48,000 + 38,000 - 89,000

= -$3,000

6 0

3 years ago

Alisha has a five-year car loan of $15,000 with an interest rate of 6 percent. If the interest is compounded annually, how much

Zina [86]

We are given with the data that the original cost of the car is $15000. However Alisha wants to pursue the whole payment for five years thus a 6 percent interest rate is given. The formula for finding the total cost is TC = 15000* (1+0.06)^5. The answer is $20,073.39

3 0

3 years ago

One of the newest developments in trademark law is that the U.S. Patent and Trademark Office has begun issuing trademarks for __

andreev551 [17]

One of the newest developments is that the U.S. Patent & Trademark Office has begun issuing trademarks for Hashtags used on social media.

<h2>What is the role of Patent & Trademark Office?</h2>

Basically, the Patent & Trademark Office is an agency with the sole responsibility of granting a patents and registering trademarks.

However, in recent times, the newest developments is that the Office has begun issuing trademarks for Hashtags used on social media.

Read more about Patent & Trademark Office

brainly.com/question/16137832

5 0

2 years ago

While wines from the United States have won prizes in international blind taste tests, the perception of American wines is gener

emmasim [6.3K]

Answer:

Country of origin effects.

Explanation:

Country of origin effect can be defined as the effects the country manufacturing or producing a particular product has on how a potential customer tends to view the product.

A country image can greatly influence the perception of the customer towards the product, or could be a negative perception or a positive perception.

Some customers may tend to favor goods that are produced from their own country. For example most individuals favor clothes and shoes that are produced in Italy than the ones produces in Spain.

7 0

3 years ago

Read 2 more answers

Ringo Industries has the following information regarding direct materials:Actual pounds purchased and used58,000Standard quantit

bulgar [2K]

Answer:

Actual Price = $5.75 per pound

Explanation:

Provided Actual Usage = 58,000 pounds

Standard = 4 pounds per finished goods,

Provided finished goods = 15,000 units

Standard Raw Material = 15,000 $\times$ 4 pounds = 60,000 pounds

Provided Direct Material Efficiency Variance is Favorable

= (Standard Usage - Actual Usage) $\times$ Standard Price

= (60,000 - 58,000) $\times$ Standard Price = $10,500

=2,000 $\times$ SP = $10,500

Standard Price = $10,500/2,000 = $5.25

Direct Material Price Variance = (Actual Price - Budgeted Price) $\times$ Actual Quantity

We will calculate Actual Price using the above data,

(Actual Price (AP) - $5.25) $\times$ 58,000 = $29,000 Unfavorable

As This variance is unfavorable, which means Actual Price is higher than Budgeted Price

AP - $5.25 = $29,000/58,000 = $0.5

Actual Price = $0.5 + $5.25 = $5.75 per pound

4 0

3 years ago