D1 • Identify and explain two strategic decisions made by the business. • Identify what information was used to make these decisions. • Evaluate the appropriateness of the information used to make these decisions. Task 2: Be able to present business information effectively Criteria : P2 P3 P4 D2 Due Date: 18.11.13 Scenario You have been asked to attend a meeting to present the results of an investigation into the effectiveness of the sales and marketing of a particular product or service by the business. This includes the way in which information is communicated to the customer.
How do managerial accountants support strategic decisions? Management accounting is a profession that involves partnering in management decisions, arranging planning to performance management systems, and providing expertise in financial reporting and control to assist in the formulation and implementation of an organization's strategy. Managerial accountants look at a variety of events that happen in and around a business while considering the needs of the business. Once completed data and estimates surface, cost accounting brings the estimates and data into knowledge that will eventually be used to guide decision-making. In managerial accounting, managers use the collected information to get better informed before any decisions are made within their organizations.
A Situation of Exemplary Leadership: An Analysis Contemporary experts of business management are interested in transformational leadership. In order to ensure the worker is committed to achieving the organization’s goals, the leader should use his influencing tactics. His goal is establish rapport, build trust and be a role model. To be an exemplary transformational leader requires emotional intelligence and the ability to inspire the worker to commit to the organization. The decision making style a leader employs should depend on the situation.
Consider, for example, the role of the board and audit committee in ensuring that risks facing the organization are identified and adequately addressed. While line management is responsible for managing risks, it is important to establish facilitator roles and a process to help analyze and prompt discussion of new or emerging risks. As sponsors of the risk assessment, the board and audit committee need to designate an appropriate process owner, such as a chief risk officer or a risk facilitator. This process owner must in turn engage the relevant parties (e.g., division general managers, business and line managers, and functional process owners) who are closest to the business activities and best understand business processes. It’s then up to these parties to analyze internal and external information, identify risks that impact business objectives, and determine the appropriate responses for dealing with these new or evolving risks.
University of Phoenix Material Understanding Business Research Terms and Concepts: Part 2 Which type of research design— exploratory, descriptive, or causal—is appropriate for the following examples? Explain why. • The goal of this research is to discover the real nature of the problem and to suggest new possible solutions or new ideas. Exploratory. This research is best when seeking insight to problems.
HOW TO ANALYZE BUSINESS CASE STUDIES* I. Approach to Problem Solving A. What is a Case Study? A case study is a description of an actual situation involving a decision to be made or a problem to be solved. Most case studies are written in such a way that the reader takes the place of the manager whose responsibility is to make decisions to help solve the problem.
The MBA Overview module breaks down the different functional areas of business that help students to understand the different roles of manager to focus on each of the areas. Management Management is the coordinating endeavors from group of managers who participate and contribute to achieving organizational goals. Management is very important in organizing and directing the work of employees to make sure the success of business. Law Business law in this sense governs the law that applies to a particular type of business. These laws will serve as a guideline and make sure that practices are in conformity.
The key objectives of the consultation were to: • • • • Assess and understand the current business environment. Identify possible issues related to the management of the business. How the issues have affected the business. Make recommendations to improve management operations. This report is a summary of the consultant’s
The functional areas of business are the different aspects of business that make up a company. With that said, since managers fall under an organization or business, it is imperative that they work together with the different functional areas of business. Managers must be keen on knowing every aspect of business law and how it pertains to their company and/or organization. This is important because a manager needs to understand what rights the company has, what kind of relations the company is allowed, and what kind of conduct is appropriate for the business and it’s employees. By violating any type of law a business could easily lose revenue and in major cases shut down forever.
Strategic planning is also “a process of defining the values, purpose, vision, mission, goals and objectives of an organization. Through the planning process, a business identifies the outcomes it wants to achieve through its programs and the specific means by which it intends to achieve these outcomes.” Strategic Planning can be: • A process for setting future directions • A means to reduce risk • A vehicle for training managers and direct supports • A process for making strategic decisions • A way to develop consensus among managers and direct supports • A means to develop a written long-range plan. Why plan strategically: So your organization doesn’t end up like this! OOP’s! OOP’s!