Unit 5 - DB 5

Unit 5 - DB 5 - managers in that the decision process of...

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I disagree with my coworker on his statement that “Using the right analysis tool will compensate  for inexperienced managers." In any activity, the right tool will become useless if the person  using it doesn’t know how to use it properly, that is effectively and efficiently. In terms of certain situations such as routine, daily, or rather mundane decisions, like cost  controls, quality controls, or staffing questions (in term of number of people needed), perhaps  this statement holds true. Since these situations are routine, the use of the right analysis tool will  surely compensate for an inexperience manager. And because of the routinely nature of the  decisions, the manager will eventually develop skills, expertise and experience as these  situations in no time. Analysis tools help finance or accounting arms of a company more so than operations 
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Unformatted text preview: managers in that the decision process of these arms require the quantitative representations of the different factors affecting the options the company has as regards the decision at hand. Quantifying these factors is a complex process, hence the use of analysis tool greatly increase accuracy. Nevertheless, if the data entered are wrong, then it is highly probable that the decision made based on the data will also be inaccurate and not the best course of action for the organization. Hence, it is also necessary for the firm to safeguard all its input-process-output activities to ensure that errors and inaccuracies are minimized. After all, no matter how right the analysis tools are, it will always be garbage in, garbage out....
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This note was uploaded on 05/04/2011 for the course ACCT 205 taught by Professor Shanakoh during the Summer '10 term at AIU Online.

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Unit 5 - DB 5 - managers in that the decision process of...

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