StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Managerial Decision Making - Essay Example

Comments (0) Cite this document
Summary
  Unit 1 Managerial Decision Making Discussion Board Question Name of the Writer Name of the Institution Unit 1 Managerial Decision Making Discussion Board Question Introduction We go through life making a number of decisions every day. Some of them are considered routine and ordinary, such as deciding the attire we will wear for work from day to day-while others are life changing and could affect our future in very definite ways…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94% of users find it useful
Managerial Decision Making
Read TextPreview

Extract of sample "Managerial Decision Making"

Download file to see previous pages I have also been asked to perform a self evaluation of the decisions made and to evaluate them myself as to whether I think they were a success or failure for the organization. My supervisor has asked me to email him this evaluation as part of my own yearly evaluation which will be used to decide my yearly bonus, so I have decided to make it as professional as possible. Discussion In posting my self evaluation regarding some recent decisions that I have made for the college, I have decided to evaluate each decision in terms of the six steps mentioned by Bazerman and Moore (2008) in their text and use this as a guide to determine whether each decision was a success or a failure. In this context I would like to define success as being an outcome where it has resulted in a reduction of effort on the part of staff or automated a process or reduced cost or improved the quality and efficiency of the college and its staff. If it did none of these things, I would regard it as a failure. The Office of Fiscal Affairs where I work is responsible for receiving and allocating funds for college use, as well as safeguarding financial assets. We must also conform to all Federal and State laws as well as maintain adequate internal control over the assets with which it has been entrusted. As the Senior Accountant, my objective has always been to minimize burdensome and time-consuming procedures in order to affect the flow of business transactions as smoothly and conveniently as possible. In this post, I will share with you some of my findings from the audit and how I intend to fix them as well as avoid repetitions of these errors in the future. Finding 1: Grant Expenditures Coded to Operating Expenses During my audit I noted that there were no set procedures for the invoicing of grant expenditures. Many costs that were allowable as Federal and State grant costs were recorded as general costs instead. The Finance Director and the Grants Manager did not coordinate and review the expenditures for inclusion as Federal or State grant expenditures. The current invoicing practice has contributed to the College’s delay in recording revenue in a timely and accurate manner. The optimal decision would be to correctly code allowable costs to the proper Federal and State grants so as to increase cash collections and better maintain the accuracy of the Grants Receivable balance. I strongly suggest that management investigate this problem and I further suggest that a formal policy and procedure be adopted to classify revenues, costs and expenses so that accounting personnel have a clear responsibility and involvement in the approval of invoices sent to the College’s grantors. In fact the College has procedures in place for processing grant expenditures. The previous administration elected not to use these processes which include collaboration with the grants department, administration and the business office. The College is reviewing this process and taking appropriate action to ensure that clear responsibility for the approval and classification of expenditures are understood in expenditures of Federal and State grants. The review process includes more involvement of the Grants Office and the Accountant in the Business Office that is responsible for accurate expenditure and billing for ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Managerial Decision Making Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
Managerial Decision Making Essay Example | Topics and Well Written Essays - 1250 words. Retrieved from https://studentshare.org/finance-accounting/1441151-unit
(Managerial Decision Making Essay Example | Topics and Well Written Essays - 1250 Words)
Managerial Decision Making Essay Example | Topics and Well Written Essays - 1250 Words. https://studentshare.org/finance-accounting/1441151-unit.
“Managerial Decision Making Essay Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/finance-accounting/1441151-unit.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Managerial Decision Making

Division Courts Decision

Justice Act in the commencement of ss 108 to 117 and Schs 6 and 7 and the lawfulness of the Secretary’s Act in failing to fully implement its provisions. The second issue concerned the question of whether the Secretary had been guilty of an unlawful Act by exercising his prerogative and implementing a non-statutory tariff scheme when ss 108 to 117 represented the will of Parliament in regard to compensation for victims of criminal injuries, and whether he had thus breached his common law powers.

3(a) In 1988, a new non-statutory Criminal Injuries Compensation Scheme was set out under ss 108 to 117, 6 and 7 of the Criminal Justice Act of 1988. According to this scheme compensation for victims was calculated on a ba...
20 Pages(5000 words)Case Study

How Does Branding Affect Buyers Purchase Decision

The scope of the study covers all kinds of buyers with different behaviours making buying decisions with regard to different brands. There is also a detailed study of the Consumer Decision Process. There is a good enough introduction on consumer buying process besides an extended and detailed introduction on Branding and Marketing emphasizing the difference between the two and how the concepts are different from each and in what way there can be a delineation between the two. There is an explanation on the different stages of Consumer Buying Behaviour, namely Need Awareness, Information Search, Checking Options, Purchase Decision, and Post Purchase Behaviour. There is also a detailed explanation on Types of Consumer Buying Behavio...
44 Pages(11000 words)Research Paper

Decision Making For Management - Linearity of Variable Costs within the Relevant Range

Keeping aside the fixed costs which have to be borne irrespective of the sales revenue, the remaining costs which are directly proportional to units sold can be minimized to manage cash flows in a better way. They can cut on their variable costs by having a look at the contribution margins of their company and their products.

The contribution of sales to before-tax profits, or gross profits, over and above the break-even is exactly the contribution margin as there are no fixed costs any more. The amount after the deduction of variable costs from the revenues will be added to the profits.

CVP graphs help the manager and the reader to have a better figure of the relationship between the profits, sales and volum...
7 Pages(1750 words)Assignment

Limitations of Managerial Perceptions

In On Heroes, Hero-Worship, and the Heroic in History, Thomas Carlyle1 explicated how a leader or the one in a controlling position (like the manager) is the stereotype of authoritative power and employees always tend to see him as the archetypal person from whom power originates. Such confusion in a socio-cultural and historical base of knowledge of a person combined with his/her personal mental bent may lead to a lot of fallible ideas about one’s own manager, who similarly may be thwarted from taking an effective action due to his own mental blocks. This is the problem of perception.
The perception of a person (in an organization) may be defined as a cognitive information processing process that enables us to interpre...
13 Pages(3250 words)Assignment

Recognized and Unrecognized Managerial Leadership

The changing roles of management in the current era of rapid globalization has been succinctly articulated in the two articles: ‘Recognized and unrecognized managerial leadership’ by S. Sjostrand and M. Tyrstrup; and ‘Why hard-nosed executives should care about management theory’ by Clayton M. Christensen and Michael E. Raynor.
 Leaders create visions and goals whereas the managers and administrators work towards achieving them.

Organizations are characterized by the unique culture that is inherent in the overall working of the organization. Discussion of leadership with reference to a large organization is as important as that of a small one for the simple reasons that the leaders with...
6 Pages(1500 words)Report

Managerial Prerogative and Protection of Employment

On the other hand, the change in the forms of employment has led to a decrease in employees’ performance in the high percentage of organizations internationally. Towards this direction, McGovern et al. (2004, 225) stated that ‘the rapid growth in nonstandard forms of employment toward the end of the 20th century has fuelled claims about the spread of "bad jobs" within Anglo-American capitalism; research from the United States indicates that such jobs have more bad characteristics than do permanent jobs after controlling for workers’. In other words, the bad conditions in the workplace – lack of communication and cooperation among the employees - but also between the employees and the firm’s owners - l...
13 Pages(3250 words)Term Paper

The Act of Storing Food and Making Food

When corn was first discovered, people fell in love with how available it was, and how simple it was to just pick, husk, and eat. They were also pleased that they could store it and use it as needed when they needed to. It was a perfect grain for traveling pilgrims during those times. Without humans, corn could not survive, as it needed to be husked to drop its seeds.
In chapter two, it is learned how important the workings of a farm are to food production. Everything from the soil that plants and grains are grown in, to the machines used to produce items for cooking play huge roles in the larger scheme of things. Even the grain that is fed to the animals has to be the best kind, to produce the best meat for sale. Everything...
14 Pages(3500 words)Literature review

Contemporary Managerial Issues in Accounts and Finance

Political theorists like Veblen argued that the separation of corporate ownership from control generates a transfer of power from a minority of stockholders to a group of decisive owners who have the control over the way of access to credit and finance (Roe, 1994, p. 5).
However, contemporary analysts of corporate power contested that dominance and ownership in modern corporations have shifted to a property-less group of managers. Consequently, this current shift of power and control in large modern corporations could usher in ultimate preoccupation over profit rather than non-financial motives. Furthermore, the separation of power and ownership will lead to the destruction of the traditional legal theory of property which en...
23 Pages(5750 words)Literature review

Managerial Economics and Business Environment

Once the above said subject matter is clearly sorted out, the next emphasis would be on the concepts like the opportunity costing, incremental principle, marginal principle, discounting principle, the principle of time perspective, and calculation of economic profit as the guidelines to the scope of managerial economics. (Surender. V, 2008).
To start with, we consider a firm for which different processes have to be carried to achieve its objectives of profit maximization (assuming that all the organizations work with the view to maximize profits). If firms from different sectors are identified simultaneously, then the working of the economy as a whole could also be analyzed which in turn is useful in the decision-making proce...
15 Pages(3750 words)Assignment

Decision Making in Health and Social Care

...DECISION-MAKING IN HEALTH AND SOCIAL CARE: ECONOMICS a) Why are market forces unsuitable for health service resource allocation? Refer in your answer to the problems of consumer sovereignty, agency, and health outcome measurement. Market forces, demand and supply, move in opposite directions with respect to price changes. When the price of a good is high the demand for it is less while the supply of it is greater. This is economic sense but nevertheless this positive economic statement about the predictable behavior of the consumer does not hold true when the demand patterns for Giffen and inferior goods are factored in. For instance when income, of the individual consumer, rises his demand for inferior goods such as potatoes...
8 Pages(2000 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Managerial Decision Making for FREE!

Contact Us