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Lesson 1: <\/span><\/h2>\n\n
Describe management\u2019s decision-making process and the concept of incremental analysis <\/span><\/h2>\n\n
This section outlines key information on how management makes decisions. As a key role of management, the decision-making process is not always a clear pattern as it depends significantly on the scope, importance and urgency of the situation.<\/p>\n\n
Click through the slides to review the steps.<\/span><\/p>\n"},"subContentId":"b2ed97c7-3b59-4017-bce7-b4b340354942","metadata":{"contentType":"Text","license":"U","title":"Untitled Text"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""},{"x":80.94497549019607,"y":65.38571428571429,"width":15.318627450980392,"height":30.26634382566586,"action":{"library":"H5P.Image 1.1","params":{"decorative":false,"contentName":"Image","expandImage":"Expand Image","minimizeImage":"Minimize Image","file":{"path":"images\/file-65fd99cf39a76.png","mime":"image\/png","copyright":{"license":"U"},"width":512,"height":512}},"subContentId":"55985bef-ca65-4cad-a7d6-774b5a29b302","metadata":{"contentType":"Image","license":"U","title":"Untitled Image"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""}],"slideBackgroundSelector":{}},{"elements":[{"x":3.676470588235294,"y":9.685230024213075,"width":91.91176470588235,"height":72.63922518159806,"action":{"library":"H5P.AdvancedText 1.1","params":{"text":"
The general steps in management\u2019s decision-making process includes evaluating the financial information (revenues and costs and their impact on the company\u2019s overall profitability) and non-financial information (factors the effect of the decision on operations, such as employee turnover, environment, company\u2019s community image, etc.): <\/span><\/p>\n\n
The next slides will walk you through the steps.<\/span><\/p>\n"},"subContentId":"a706d449-085e-4b85-988a-139db7e20a0a","metadata":{"contentType":"Text","license":"U","title":"Untitled Text"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""},{"x":72.30392156862744,"y":55.690072639225185,"width":20.250088594137598,"height":40,"action":{"library":"H5P.Image 1.1","params":{"decorative":true,"contentName":"Image","expandImage":"Expand Image","minimizeImage":"Minimize Image","file":{"path":"images\/file-65fd9a1be9574.png","mime":"image\/png","copyright":{"license":"U"},"width":512,"height":512}},"subContentId":"f273c8b5-5919-4106-8032-6d4ff57fb35a","metadata":{"contentType":"Image","license":"U","title":"Untitled Image"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""}],"slideBackgroundSelector":{}},{"elements":[{"x":3.676470588235294,"y":9.685230024213075,"width":91.91176470588235,"height":72.63922518159806,"action":{"library":"H5P.AdvancedText 1.1","params":{"text":"
Step 1: Identify the problem and assign responsibility <\/strong><\/span><\/h2>\n"},"subContentId":"e3590142-d89e-4308-b457-c7bbcfba5485","metadata":{"contentType":"Text","license":"U","title":"Untitled Text"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""},{"x":68.62745098039215,"y":48.426150121065376,"width":20.250088594137598,"height":40,"action":{"library":"H5P.Image 1.1","params":{"decorative":true,"contentName":"Image","expandImage":"Expand Image","minimizeImage":"Minimize Image","file":{"path":"images\/file-65fd9a3eba530.png","mime":"image\/png","copyright":{"license":"U"},"width":512,"height":512}},"subContentId":"723e3620-1fd7-4902-8c42-3a5c48f4e15c","metadata":{"contentType":"Image","license":"U","title":"Untitled Image"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""}],"slideBackgroundSelector":{}},{"elements":[{"x":2.450980392156863,"y":4.842615012106537,"width":95.58823529411765,"height":72.63922518159806,"action":{"library":"H5P.AdvancedText 1.1","params":{"text":"
Step 2: Determine and evaluate possible courses of action - this may be a couple of options or a significant number of options, depending on the context. <\/span><\/strong><\/h2>\n"},"subContentId":"7af22c65-166e-4b75-a8fa-928ef915b08c","metadata":{"contentType":"Text","license":"U","title":"Untitled Text"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""},{"x":75.98039215686275,"y":55.690072639225185,"width":20.250088594137598,"height":40,"action":{"library":"H5P.Image 1.1","params":{"decorative":true,"contentName":"Image","expandImage":"Expand Image","minimizeImage":"Minimize Image","file":{"path":"images\/file-65fd9ac81822e.png","mime":"image\/png","copyright":{"license":"U"},"width":512,"height":512}},"subContentId":"2705bf43-2ab5-4c54-9f7c-b648002da3a0","metadata":{"contentType":"Image","license":"U","title":"Untitled Image"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""}],"slideBackgroundSelector":{}},{"elements":[{"x":2.450980392156863,"y":4.842615012106537,"width":95.58823529411765,"height":72.63922518159806,"action":{"library":"H5P.AdvancedText 1.1","params":{"text":"
Step 3: Make a decision by ruling out the least desirable choices to determine the most optimal option <\/span><\/h2>\n"},"subContentId":"2c7e4662-62b4-4fb2-8379-026ead6a1c77","metadata":{"contentType":"Text","license":"U","title":"Untitled Text"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""},{"x":75.98039215686275,"y":55.690072639225185,"width":20.250088594137598,"height":40,"action":{"library":"H5P.Image 1.1","params":{"decorative":true,"contentName":"Image","expandImage":"Expand Image","minimizeImage":"Minimize Image","file":{"path":"images\/file-65fd9b31249ea.png","mime":"image\/png","copyright":{"license":"U"},"width":512,"height":512}},"subContentId":"3ba3f3ac-2b93-47aa-b9cf-066d6106bb99","metadata":{"contentType":"Image","license":"U","title":"Untitled Image"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""}],"slideBackgroundSelector":{}},{"elements":[{"x":2.450980392156863,"y":4.842615012106537,"width":95.58823529411765,"height":72.63922518159806,"action":{"library":"H5P.AdvancedText 1.1","params":{"text":"
Step 4: Review results of the decision through monitoring and evaluation <\/span><\/h2>\n\n
<\/p>\n"},"subContentId":"7b2a5d78-5aeb-438c-a63e-73a8ae6646e4","metadata":{"contentType":"Text","license":"U","title":"Untitled Text"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""},{"x":73.52941176470588,"y":53.26876513317191,"width":20.250088594137598,"height":40,"action":{"library":"H5P.Image 1.1","params":{"decorative":true,"contentName":"Image","expandImage":"Expand Image","minimizeImage":"Minimize Image","file":{"path":"images\/file-65fd9b97b66ad.png","mime":"image\/png","copyright":{"license":"U"},"width":512,"height":512}},"subContentId":"fdd95068-2034-4e3f-a589-fed45415b973","metadata":{"contentType":"Image","license":"U","title":"Untitled Image"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""}],"slideBackgroundSelector":{}},{"elements":[{"x":1.2254901960784315,"y":2.4213075060532687,"width":95.58823529411765,"height":92.00968523002422,"action":{"library":"H5P.AdvancedText 1.1","params":{"text":"
All together now:<\/span><\/h2>\n\n
\n\t
Step 1:<\/strong> Identify the problem and assign responsibility <\/span><\/li>\n\t
Step 2:<\/strong> Determine and evaluate possible courses of action - this may be a couple of options or a significant number of options, depending on the context <\/span><\/li>\n\t
Step 3:<\/strong> Make a decision by ruling out the least desirable choices to determine the most optimal option <\/span><\/li>\n\t
Step 4:<\/strong> Review results of the decision through monitoring and evaluation<\/span> <\/span><\/li>\n<\/ul>\n\n
The role of accounting is mainly in steps 2 and 4, namely, supporting management in providing relevant revenue and cost data for each course of action and overall effect on net income and by providing internal reports to review the impact of the chosen course of action. <\/span><\/p>\n\n
<\/p>\n"},"subContentId":"b726caaa-2f25-4802-bad5-2dc34c1a7941","metadata":{"contentType":"Text","license":"U","title":"Untitled Text"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""},{"x":82.79019607843136,"y":0,"width":12.254901960784313,"height":24.213075060532688,"action":{"library":"H5P.Image 1.1","params":{"decorative":true,"contentName":"Image","expandImage":"Expand Image","minimizeImage":"Minimize Image","file":{"path":"images\/file-65fd9c7adb961.png","mime":"image\/png","copyright":{"license":"U"},"width":512,"height":512}},"subContentId":"50689523-ef28-471c-9d10-e78e7d986992","metadata":{"contentType":"Image","license":"U","title":"Untitled Image"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""}],"slideBackgroundSelector":{}}],"keywordListEnabled":true,"globalBackgroundSelector":{"fillGlobalBackground":"#1cd1c8"},"keywordListAlwaysShow":false,"keywordListAutoHide":false,"keywordListOpacity":90},"override":{"activeSurface":false,"hideSummarySlide":false,"summarySlideSolutionButton":true,"summarySlideRetryButton":true,"enablePrintButton":false,"social":{"showFacebookShare":false,"facebookShare":{"url":"@currentpageurl","quote":"I scored @score out of @maxScore on a task at @currentpageurl."},"showTwitterShare":false,"twitterShare":{"statement":"I scored @score out of @maxScore on a task at @currentpageurl.","url":"@currentpageurl","hashtags":"h5p, course"},"showGoogleShare":false,"googleShareUrl":"@currentpageurl"}},"l10n":{"slide":"Slide","score":"Score","yourScore":"Your Score","maxScore":"Max Score","total":"Total","totalScore":"Total Score","showSolutions":"Show solutions","retry":"Retry","exportAnswers":"Export text","hideKeywords":"Hide sidebar navigation menu","showKeywords":"Show sidebar navigation menu","fullscreen":"Fullscreen","exitFullscreen":"Exit fullscreen","prevSlide":"Previous slide","nextSlide":"Next slide","currentSlide":"Current slide","lastSlide":"Last slide","solutionModeTitle":"Exit solution mode","solutionModeText":"Solution Mode","summaryMultipleTaskText":"Multiple tasks","scoreMessage":"You achieved:","shareFacebook":"Share on Facebook","shareTwitter":"Share on Twitter","shareGoogle":"Share on Google+","summary":"Summary","solutionsButtonTitle":"Show comments","printTitle":"Print","printIngress":"How would you like to print this presentation?","printAllSlides":"Print all slides","printCurrentSlide":"Print current slide","noTitle":"No title","accessibilitySlideNavigationExplanation":"Use left and right arrow to change slide in that direction whenever canvas is selected.","accessibilityCanvasLabel":"Presentation canvas. Use left and right arrow to move between slides.","accessibilityProgressBarLabel":"Choose slide to display","containsNotCompleted":"@slideName contains not completed interaction","containsCompleted":"@slideName contains completed interaction","slideCount":"Slide @index of @total","containsOnlyCorrect":"@slideName only has correct answers","containsIncorrectAnswers":"@slideName has incorrect answers","shareResult":"Share Result","accessibilityTotalScore":"You got @score of @maxScore points in total","accessibilityEnteredFullscreen":"Entered fullscreen","accessibilityExitedFullscreen":"Exited fullscreen","confirmDialogHeader":"Submit your answers","confirmDialogText":"This will submit your results, do you want to continue?","confirmDialogConfirmText":"Submit and see results","slideshowNavigationLabel":"Slideshow navigation"}}

ADMN 3021 Chapter 7 Lesson 1--

Terry Greene