decision making

The process of choosing a logical choice from the given options. When trying to make a good decision, a person must weigh the pros and cons of each option, and consider all the substitutes. For effective decision making, a person must be able to forecast the consequence of each option as well, and established on all these items, determine which option is the best for that particular situation.

Activity Based Costing System

Activity Based Costing System A Tool for Management to Aid Decision Making: Learning Objectives: Define and explain activity based costing (ABC) system. How various manufacturing and non-manufacturing costs are treated under activity based costing system? What are advantages and disadvantages of ABC system Definition

Decentralization in Organizations

Decentralization in Organizations: Learning Objectives: Define and explain the term “decentralization”. What are the advantages and disadvantages of decentralization in business organizations? What are business segments? Define and explain cost, profit, and investment centers. Definition and Explanation of Decentralization A decentralized organization is one