Management Insight - ManagementInsight

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Management Insight How do managers achieve control? A smart manager in a small operation can make personal  observations, ask good questions, and know how to evaluate the answers. But using this approach in a  large organization would result in chaos. Unless there is some record of what has happened and what  is expected to occur, imagine the president of  Dell  attempting to determine whether the company is  meeting its planned objectives. Thus, large businesses typically use a formal system of evaluation.  These systems include such features as budgets, responsibility centers, and performance evaluation  reports—all of which are features of managerial accounting. Decision making is not a separate management function. Rather, it is the outcome of the exercise of  good judgment in planning, directing, and controlling. Peter Kramer/Getty Images, Inc.
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Management Insight - ManagementInsight

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