Elements of decision making Business Line 3

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The information you need to do to decision there is no doubt that the decision-making, they need information. Without this information, you can guess in a vacuum. If you prefer, you can reduce your chances of success of the company business.Company important decision, probably, or at least should manage information systems very challenging. Computer information systems for all major business areas. Management team to monitor and evaluate such information through the traffic summary reports, communication.Those meetings (regular and ad hoc), and other measures, the same sources of information management as a basis to make important decisions. Previous reports of revenues and the reports on the various products, processes and cost centers, a market research firm reported material cost, reliable relationships with suppliers. Depending on the decision, some or all of these, and can be no doubt that this information should account.There critical to important decisions in this area have. Some companies fall into the trap of letting the information that is collected by industry division of the system. If the company is convinced that if the process becomes routine, the value has vaporized these systems. I own IT systems into a black hole and the use of time, so that each value return.Let example. In 1990, he is a famous British company, which like most companies budget process each year. This was an important time for the decision, which is a key role in one of the world’s most competitive markets in the world was. The company is at the peak of his career, if not the best. He had a very good reputation for the modernization, innovation and efficiency of the speech of the public sector at a standstill over the world.The budgeting process took several months before the start of the year. Each manager of each unit is ready for them, and became a point of agreement. Because at the moment to decide on next year’s budget for each department? In general, each department has, on the basis of a budget. Each manager adds a little here and there, something new was the money. We look forward to talking about millions of pounds. Then the CFO and the CEO, about the budget meeting the individual players lose a little bit to find a better cost structure. So you end up with a budget similar to the first, regardless of the final budget is nonsense. One year, the Board decided that the system was bad. Running “top-down” of the budget and all departments must start from scratch. Now they had to justify every penny, get a quote for one year. He continued complacency and blind acceptance of what happened in the past. As a result, management had to justify what would have happened. Each issue has the decision, but a journey. Methods, if the “decision” to stop them further. Less habits to make better decisions, the final result will be greater profitability.I can say with certainty that these cases of fraud, and management information systems is widespread. Too often accept in addition to the users of these systems to the truth of the gospel, when in fact there may be errors in the data, or they can contain a large amount of calculation. It is possible that the face looks complicated, but often they are below the surface. With the teachings of his own businesss, because I wrote so long ago, a big deal if a man is likely to be a team? First of all, have an advantage over many others when they are fully aware of the fact that these are business decisions. I gave the example because they are more likely to remember too many theories. This is a mnemonic to help hopefully, you remember how to through his career further. “I decisions on good information to make accurate basis and do not let my habit of decision, the truth about strip had” ‘It is amazing how differently you go in a certain situation, but seeing as memory and perception, mixed with emotions and moods. to save a few years ago my partner at that time one of our customers, where there were only about 300 € per month wanted. After a few minutes to change your mind. I worked for hourly wage statement, which worked with magazines and 7, in any case, the productive hours offers. It was an easy decision and we can do, because the proportion of basic information – a record for time spent on each client.It is not possible to give a short article, a complete list of all accounts, it should be and how to assist in decision making. Whatever you do will not get the lover of all the necessary information systems. You need accurate and informative, but only the information necessary to make decisions, you may need to make.In economy, cost structure, markets, customers, suppliers, and how within the company. Think you have to be taken to make such decisions, so make sure you keep up to date and accurate information about these decisions. Here are some tips to some of them close: most of the required information or financial information. If you create an account in order to legally use software such as QuickBooks, you can specify the number of categories, products, market share, etc. For example, if you are in advertising, which was falling used by more than one product, you sure you not only write the entire (legal), but you can configure each product costs, etc., B and C, which a lot of information that can be summed up quickly is the decision-making. The same applies to sales and commissions. Can control many Clickbank products as they try to break down.o to control the use of tables. They can be used for simulation, or “what if?” Scenarios for decision making, and once established, can be very strong assistants.o, if you use tables, make sure that 100% use them correctly before making decisions. Complex tables, especially fit error formulas that are not obvious. If the information is correct, it is dangerous and useless both.o usually is when you lengthen the time between the different revenue sources to try to time spent on each track. As a sole proprietor with no employees, a critical moment to keep a deadline to work every day, using it.o Try some quiet time “when it will need for the important decision of all kinds. Think before you the information are needed for good decisions, and only when everything is available, ‘the decision.’ Aid to the mood and feelings that can interfere with decisions.o If you make a decision and you discover that the necessary information for purposes accounting have to destroy, to ask if you change the records for future decisions. What I’m trying to do in this series is to increase awareness of the need to distinguish the company’s personnel policy decisions. The same work, but to make better decisions when not one, but deals with another also.if also tried to encourage you to be aware of the need to gather relevant information needed for future decisions. Are often made from the beginning strengthened if you on.As the development of the company, you need help on some of the decisions that advanced statistical tools and techniques to think about. I’m not here to remember only the lessons of English society I mentioned earlier to ask. Bigger not always better. And accuracy are getting better .